Kathmandu: The 14th annual general meeting of Asian Life Insurance Company Limited(ALICL) held at Hotel Classic Simara, Bara has endorsed the agenda of 15.26 dividend distribution from the accumulated profit of fiscal year 2077-78.
The AGM has endorsed the agenda of 14.50 percent stock dividend and 0.76 percent cash dividend for tax purposes against the stock and cash dividend. ALICL has a paid up capital of Rs. 2.53 billion.
Similarly, the AGM has also passed a proposal to change the promoter-public shareholding ratio from 60:40 to 51:49. The assembly has discussed and passed various proposals including the cash flow and financial statement of FY 2077-78. The company had closed the book on Ashoj 4 for the purpose of AGM and dividend distribution.
ALICL plans to achieve the target of Rs. 5 billion paid-up capital by the end of Chaitra 2079. Though just six months left for the deadline, the top level management of the company is hopeful to add sum more capital from the profit of FY 2078-79 and rest of the capital from the issue of rightshares.
