Asian Life Insurance to Hold 17th AGM, Announces Bonus and Cash Dividends

Kathmandu – Asian Life Insurance Company Limited has announced it will hold its 17th Annual General Meeting (AGM) on Monday, Ashar 30 (July 14). The decision was made during a recent board meeting. The AGM is scheduled to take place at Hotel Ichchha in Simara at 1 PM.

The company has proposed to distribute a 5.10 percent bonus share equivalent to Rs. 173.3 million and a 0.2684 percent cash dividend worth Rs. 9.12 million (including tax) from the accumulated profit of the previous fiscal year. The dividend distribution is based on the company’s existing paid-up capital of Rs. 3.39 billion.

Alongside the dividend proposal, the meeting will also endorse the annual report, auditor’s report, and financial statements of the last fiscal year. It will also appoint an auditor for the current fiscal year and determine their remuneration.

Additionally, the AGM will elect members to the board of directors, including three representatives from promoter shareholders (Group A), two from general shareholders (Group B), and one independent director.

A resolution will also be passed to authorize the Board of Directors to make necessary amendments to the memorandum of association and articles of association. This follows the expected increase in issued and paid-up capital after the bonus share distribution and any directives from regulatory authorities.

For the purpose of dividend distribution and AGM participation, the company will close its book on Ashar 20 (July 4). Only shareholders registered with the Nepal Stock Exchange (NEPSE) by Ashar 19 (July 3) will be eligible.