LIC Nepal Announces Date for 23rd AGM to Approve Bonus Shares and Dividend

Kathmandu — Life Insurance Corporation (Nepal) Limited (LIC Nepal) has announced its 23rd Annual General Meeting (AGM), scheduled for Monday, Ashar 30 (July 14), at the Nepal Administrative Staff College, Jawalakhel, Lalitpur, starting at 11:45 AM.

The decision to convene the AGM was made recently during a meeting of the company’s board of directors. The agenda includes approval of a 10 percent bonus share distribution and a 0.526 percent cash dividend (including tax) based on the company’s current paid-up capital.

In addition to the dividend proposal, the AGM will also consider and approve the annual report, auditor’s report, and financial statements for the previous fiscal year. An auditor for the current fiscal year will also be appointed, and their remuneration finalized.

Furthermore, the meeting will oversee the election of one director from Group B shareholders (general public) and endorse the appointment of a director nominated by the promoter group.

As the distribution of bonus shares will result in an increase in paid-up capital, the shareholders will authorize the board of directors to make necessary amendments to the company’s Memorandum of Association and Articles of Association, in line with regulatory guidelines.

For the purpose of dividend distribution and AGM participation, the company has announced a book closure for one day on Ashar 16 (June 30). Accordingly, only shareholders registered with the Nepal Stock Exchange (NEPSE) by Ashar 15 (June 29) will be eligible to attend the AGM and receive the declared dividends.