February 28, 2023 | Investopaper
Prudential Insurance Company Limited (PICL) has revised the dividend to the shareholders. The dividend declaration is from the fiscal year 2078/79.
The insurance company has proposed a 3.5 percent dividend. The total dividend includes a 3.325 percent bonus share and a 0.175 percent cash dividend (for tax purposes).
Previously, the company had announced a 6.842 percent dividend. The total dividend included a 6.50 percent bonus share and a 0.342 percent cash dividend (for tax purposes). However, as per the direction of Nepal Insurance Authority, the company has amended the dividend.
The dividend is subject to approval from the upcoming AGM of the insurance.
From the previous fiscal year 2077/78, PICL had distributed a 7.368 percent dividend, including a 7 percent bonus share and a 0.368 percent cash dividend. Likewise, in the fiscal year 2076/77, the company had provided an 8.42 percent dividend to the shareholders, including an 8 percent bonus shares.
As of Ashad’s end 2079 BS, Prudential Insurance has a paid-up capital of Rs. 118.61 crores. After the inclusion of the proposed bonus share, the capital will rise to Rs. 122.55 crores.