National Life Insurance (NLICL) Proposes 15% Dividend for Fiscal Year 2080/81
National Life Insurance Company Limited (NLICL) has put forward a dividend of 15% to its shareholders for the year 2080/81. The proposal was brought at the 550 th meeting of the board of directors held on Baishakh 31 in the light of paid up capital of Rs. 5.21 Arba.
Dividend Distribution Breakdown:
- Bonus Shares: 5% bonus shares of Rs. 26.06 crores.
- Cash Dividend: 10% cash dividend totaling Rs. 52.12 crores.
- Tax on Bonus Shares and Cash Dividend. An additional 7.8947300000000% cash dividend totaling to Rs. 4.11 crores to shed the tax burden of distributed bonus shares and cash dividend.
Conditions and Approvals:
The divvy-up of dividends has not been approved yet by the Nepal Insurance Authority and is yet to be endorsed by the next Annual General Meeting (AGM) of the company.
NLICL’s Market Performance:
As of announcement timings, the Last Traded Price (LTP), of NLICL is Rs. 612.86 per share. It is recommended that the investors should be aware of the AGM dates and the approval of final dividend.
Key Takeaways:
- Total Dividend: 15% (5% bonus shares + 10% cash dividend)
- Total Payout: Rs. 82.29 crores
- LTP: Rs. 612.86 per share
About company:
National Life Insurance Company Limited (Formerly National life& General Insurance Co.Ltd.) has been incorporated in 1988 in the Nepal under the Companies Act of 1964 and the Insurance compulsion Act 1968 of the Nepal with the prominent aim to life up the insurance necessities of the country.
For three and half decades National Life has established reputation for being a company that believes in the highest degree of customers’ service. Our commitment to provide value and service to all who do business with us only strengthens the well known name and good reputation of the company.
They are supported by the National Life’s core values of professionalism, openness, trust worthiness and honesty. These values are at the heart of the company’s pursuit toward achieving its vision of financial freedom for all; the company sticks to its ethics and integrity at highest levels.