National Life Insurance Holds 37th AGM, Approves Dividend and Elects New Directors

Kathmandu – National Life Insurance Company Limited successfully conducted its 37th Annual General Meeting (AGM) at its central office in Lazimpat today. The meeting was held under the chairmanship of the company’s Board of Directors Chairperson Prema Rajya Laxmi Singh.

During the AGM, shareholders approved the proposal to distribute a total of 15 percent return on the current paid-up capital of Rs. 5.21 billion. This includes a 10 percent cash dividend, 5 percent bonus shares, and an additional 0.789473 percent cash dividend to cover the tax liabilities on the bonus shares.

The meeting also endorsed the company’s annual report for the previous fiscal year, along with the auditor’s report and financial statements. An auditor for the current fiscal year was appointed, and the matter of determining their remuneration was finalized.

Chairperson Singh acknowledged the delay in holding the meeting and attributed it to issues related to actuarial valuation. She assured that the company is committed to convening the next AGM on time and emphasized National Life Insurance’s strong business performance and wide network. Singh also expressed the company’s continued commitment to providing stable and reasonable returns to its shareholders.

Additionally, the AGM passed resolutions to increase the company’s paid-up capital and approved the expenditures incurred during the previous fiscal year. It also authorized the Board of Directors to make necessary amendments to the company’s memorandum of association and regulations.

As part of its internal restructuring, the company elected three directors from the founder shareholders (Class A) and two directors from general shareholders (Group B).

For the purpose of the AGM and dividend distribution, the company had closed its book on Jestha 22 (June 5). Accordingly, shareholders registered with NEPSE until Jestha 21 (June 4) will be eligible to receive the approved dividend.