Asian Life Announces Date for 14th AGM to Endorse 15.26pc Dividend

Kathmandu: Asian Life Insurance Company Limited (ALICL) has called its 14 annual general meeting on Ashoj 13,2079. The company is holding its AGM at the Hotel Classic Plaza, Simra, Bara. The AGM will start at 11:30 am.

The AGM will endorse the proposal of distribution of 14.50 percent bonus shares and 0.76 percent cash dividend for tax purposes againstt the bonus and cash dividend. The dividend will be distributed based on the current paid-up capital of Rs. 2.53 billion. The profit has been announced from the accumulated profits till the financial year 2077-78.

Similarly, the proposal to maintain promoter to public shareholding ration from 60:40 to 51:49 will also be submitted in the AGM. The AGM is expected to endorse the proposal for new issued and paid up capital.

For the purpose of AGM and dividend distribution, the company will close the book on Ashoj 4, 2079. On the basis of this, the existing shareholders until Asoj 3 will participate in the AGM and be eligible to receive the dividends.

ALICL is the first company to announce AGM for FY 2077-78. For the FY 2076-77, ALICL had distributed 25 percent bonus shares to its shareholders. ALICL plans to meet the minimum paid up capital requirement through bonus share and right share distribution. As per the regulatory requirement, the minimum paid-up capital of Rs. 5 billion must be maintained by the end of Chaitra 2079.

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