Kathmandu: National Life Insurance Company (NLICL) has declared dividend for the financial year 2077/78. The meeting of the board of directors (BODs) held on Bhadra 27, 2079 has proposed 15.789 dividend including bonus share.
The BODs has proposed to distribute 15 percent bonus share of current paid up capital which equals to Rs. 605.2 million. The company has proposed a cash dividend of 0.789 percent for tax purposes for the bonus share and cash dividend distribution. After the proposed bonus shares, the company’s paid-up capital will reach Rs. 4.6404 billion.
The financial report prepared by the company according to the NFRS system will be submitted to the Insurance Board for approval. The company will need additional Rs. 359.5 million to reach the minimum paid-up capital of 5 billion rupees. The regulatory paid-up capital is Rs.5 billion for life insurers which they have to meet by the end of Chaitra 2079.