Prabhu Mahalaxmi Life Insurance to Provide 10.526 Percent Dividend
August 25, 2024 | Investopaper
Prabhu Mahalaxmi Life Insurance Company Limited (PMLI) has announced the dividend to the shareholders. The dividend declaration is from the fiscal year 2079/80.
The life insurance company has proposed a 10.526 percent dividend. The total dividend includes a 10 percent bonus share and a 0.526 percent cash dividend (for tax purposes).
As of Ashad’s end 2081 BS, Prabhu Mahalaxmi Life Insurance has a paid-up capital of Rs 4.29 Arba. At this capital, the bonus share is worth Rs 42.9 crores.
After the proposed 10 percent bonus share inclusion, the paid-up capital of PMLI will reach Rs. 4.72 Arba.
The company will distribute the dividend after the approval from Nepal Insurance Authority and the upcoming Annual General Meeting (AGM).
In order to meet the minimum paid-up capital requirement of Rs. 5 Arba for life insurance companies, PMLI will issue 7 percent right shares after the bonus share inclusion. Earlier, the company had planned to issue 17 percent right shares.
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