Kathmandu: Life Insurance Corporation Nepal (LICN) has decided not to distribute dividends to the shareholders for 2077-78. The board of directors(BODs) meeting held on 26 Jestha 2080 has decided not to distribute dividends for the previous FY.
The insurer’s balance sheet, profit and loss account, and cash flow have been approved by the Nepal Insurance Authority for FY 2077-78. Its current paid-up capital is NPR 2,65,32,000. The special general meeting held on 3 Magh 2079, had decided to issue 88.45 percent right shares to arrange additional equity capital. The insurer aims to collect NPR 2,34,68,000 from the issue of the right shares.
The insurer had distributed 21.05 percent dividends including 20 percent stock dividends in the FY 2076-77.