The AGM will endorse a proposal of distributing 7.5 percent stock dividend to its shareholders. Moreover, the meeting will delegate authority to BOD to forward merger/acquisition process with suitable partners.
Previously, the company had announced of distributing Rs 4 million as cash dividend for tax purpose, the Insurance Board declined the proposal, thus, the shareholders are required to pay taxes by themselves.
For the AGM, the company is closing its book on August 9 for the upcoming AGM, thus, the shareholders registered in its book till August 8 will be eligible to attend the AGM and obtain the announced dividend.
