Asian Life’s 13th AGM approves 27 pc dividend

Kathmandu: The 13th Annual General Meeting(AGM) of Asian Life Insurance Co. Ltd. has passed the proposal of the Board of Directors(BODs) to distribute 25 percent bonus share and 2 percent cash dividend of the paid up capital from the accumulated profit till the Fiscal Year 2076/77.

The AGM passed a resolution of the BODs to distribute bonus shares equal to Rs.502.69 million at the rate of 25 percent of the current paid up capital and to distribute Rs.4.215 million as cash dividend for tax purpose.
Chairman of the Board of Directors of the company Deepak Kumar Shrestha presided over the general meeting which was held on Friday from Asian Life Bhawan in Maitidevi, Kathmandu.

The AGM has approved the appointment and remuneration of External Auditor SAR Associates’ Chartered Accountant Mr. Sunil Kumar Dhungel as per the recommendation of the Audit Committee for the Fiscal Year 077/78. A proposal to authorize the Board of Directors to seek approval from the concerned regulatory body to operate a mutual investment fund in Asian Capital Ltd., a subsidiary of Asian Life Insurance, has been passed by a majority of the AGM. The AGM has also passed a resolution authorizing the BODs to amend the AoA and MoA as per the directives and instruction received from the concerned body.

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