Surya Life proposes 13.36 percent dividend to shareholders

Kathmandu: Surya Life Insurance Company has proposed a dividend of 13.36 percent to its shareholder. A meeting of the Board of Directors of the company held on October 30 has proposed a total dividend of 13.3685 percent from the profits of the FY 2076/77 including 12.70 percent bonus shares of the paid-up capital and 0.6684 percent cash dividend for tax purposes.

The dividend proposed by the company can be submitted to the next AGM only after the approval of the regulatory body the Insurance Board(IB). The shareholders will receive the dividend only after the AGM approves the proposed dividend.

The current paid up capital of the company is Rs. 2.26 billion. After the proposed 12.70 percent or Rs 287.3 million bonus share distribution, the paid up capital will reach Rs. 2.54 billion. The actuarial valuation of the company has been approved by the IB. With the approval of the assessment, the company has also announced the bonus rate to be received by the insured.

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