Last Day to Secure LIC Nepal’s Dividend

Kathmandu — Today marks the final day for shareholders to secure dividends from Life Insurance Corporation (Nepal) Limited (LIC Nepal). Only investors listed on the Nepal Stock Exchange (NEPSE) by the end of trading today will be eligible to receive the company’s proposed dividend and participate in its upcoming Annual General Meeting (AGM).

The company has announced a 10 percent bonus share distribution along with a 0.526 percent cash dividend (including tax) on its current paid-up capital. To endorse this proposal, LIC Nepal has scheduled its 23rd AGM for Ashar 30 (July 14) at 11:45 AM at the Nepal Administrative Staff College, Jawalakhel, Lalitpur.

In preparation for the AGM and dividend distribution, the company will have its book closure on Ashar 16 (June 30) for a single day. During this period, any change in shareholding will not be recognized for dividend eligibility.

The meeting will also review and approve the financial reports of the previous fiscal year, including the auditor’s report and other statements. Additionally, the AGM will appoint an auditor for the current fiscal year and finalize the remuneration.

Further, LIC Nepal plans to elect one director from the general shareholders (Group B) and approve a director nominated by the promoter shareholders. As the issuance of bonus shares will increase the company’s capital, shareholders will also vote to authorize the board to carry out the necessary amendments to the company’s memorandum and articles of association as required by regulatory authorities.