Reliable Nepal Life Concludes 8th AGM, Approves 12% Bonus Shares and Cash Dividend

Kathmandu — Reliable Nepal Life Insurance Limited has successfully concluded its eighth annual general meeting (AGM) today at Amrapali Banquet, Bhatbhateni, Kathmandu. The meeting was held under the chairmanship of the company’s Chairman, Uday Nepali Shrestha.

During the AGM, shareholders approved the proposal to distribute a 12 percent bonus share and a 0.63 percent cash dividend (including tax) based on the existing paid-up capital of Rs. 4.64 billion. With the issuance of bonus shares, the company’s paid-up capital will increase to Rs. 5.19 billion.

The meeting also endorsed the annual report for the last fiscal year, the auditor’s report, and the audited financial statements. In addition, it finalized the appointment of the auditor for the current fiscal year along with the determination of their remuneration.

To accommodate the changes brought by the issuance of bonus shares and possible directives from the regulatory body, the meeting passed a resolution authorizing the board of directors to make necessary amendments to the company’s memorandum of association and regulations.

Responding to shareholders’ queries, Chairman Shrestha stated that the company’s financial indicators are showing signs of continuous improvement. He reaffirmed his commitment to delivering fair returns to shareholders and extended his gratitude to the employees and investors for their ongoing support.

The company had its books closure on Jestha 26 (June 9) for the purpose of the AGM and dividend distribution. Therefore, only those shareholders who held shares until Jestha 25 (June 8)will be eligible to receive the declared dividend.