Kathmandu: The proposed dividend of Asian Life Insurance for the financial year 2077-78 has been approved by the Insurance Board. The Board has approved the proposed dividend and financial statement on Bhadra 20, the company said.
The meeting of the Board of Directors(BODs) held on 20th of Sawan, 2078, has proposed 15.26 percent dividend including 14.5 percent bonus share. The proposed bonus share against the current paid of capital of Rs 2 billion 53 crore 98 lakh 35 thousand amounts to Rs. 368 million 82 lakh 76 thousand 75 rupees. For the capital gain tax against the bonus share the company will distribute 0.76 percent cash dividend which amounts to Rs. 1 crore 93 lakh 82 thousand 951 rupees.
With the nod from the regulatory authority, the company can call the annual general meeting for endorsement of the proposed dividend. The existing shareholder prior to the date of book closure will be eligible for the bonus share. The BODs meeting of the company will announce the date for its 14th AGM and the date for book closure.
Earlier the company had distributed 25 percent bonus share to its shareholders from the accumulated profit till FY 2076-77.