As per the company, the Insurance Board directed the company to provide stock dividend instead of cash dividend to its shareholders.
Accordingly, it has now declared of distributing 9 percent stock and 0.4737 percent cash dividend for tax purposes.
The proposed dividend is subjected to approval from its upcoming AGM.
The company is conducting its 21st AGM in the conference hall of Nepal Tourism Board, Bhrikuti Mandap, Kathmandu at 11 AM on January 13.
The meeting will approve a merger proposal with Premier Insurance with a swap ratio of 1:1 and start joint transaction in the name of Siddhartha Premier Insurance. Moreover, the meeting will delegate authority to BOD to complete merger with Premier Insurance and carry out all the necessary tasks regarding the merger.
In this regard, the company will close its book on January 2, thus, the shareholders registered in its book till January 1 will be eligible to attend the AGM and obtain the announced dividend.
