LIC Nepal Calls Out AGM

Jul 11, 2019 12:49 PM Merolagani

Life Insurance Corporation Nepal has called out 17th AGM on August 9 in the conference hall of Nepal Police Club, Bhrikutimandap at 9:00 AM.

The meeting is subjected to approve 70 percent dividend proposal to its shareholders. Upon approval, the company will distribute 35.53 percent cash dividend worth Rs 531.2 million and 34.46 percent stock dividend worth Rs 515.1 million.

Similarly, the company will endorse a proposal of increasing its authorized, issued and paid-up capital in its Article of Association.

For the AGM, the company is closing its book on July 25, thus, the shareholders registered in its book till July 24 will be eligible to attend the AGM and obtain the announced dividend.

Presently, the company has a paid-up capital of Rs 1.49 billion that will exceed the minimum paid-up capital requirement of Rs 2 billion as per IB directive.

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