Last Day to Secure Dividend of United Ajod Insurance

Kathmandu – Investors eyeing the dividend benefits from United Ajod Insurance Limited must purchase shares by the end of trading today, Ashar 18 (July 2), to qualify. The company’s has its book closure on Ashar 19 (July 3) in preparation for its 31st Annual General Meeting (AGM) and dividend distribution.

As per the announcement, only shareholders recorded by today will be eligible to participate in the upcoming AGM and receive dividends.

The board of directors has proposed a 10 percent bonus share distribution, which is equivalent to Rs 210 million, from its current paid-up capital of Rs 2.10 billion. In addition, the company has recommended a cash dividend of 0.5263 percent—roughly Rs 11.52 million—including taxes.

The AGM is scheduled for 10:30 AM on Monday, Ashar 30 (July 14), at Amrapali Banquet Catering and Event Pvt. Ltd., Bhatbhateni, Kathmandu.

The meeting will also finalize a previously endorsed proposal to issue rights shares in line with the directive of the Nepal Insurance Authority, which has mandated non-life insurance companies to raise their minimum paid-up capital to Rs 2.5 billion. Initially proposed at 15 percent, the rights share issuance will now be revised to 10 percent, considering the increment in paid-up capital after the bonus share distribution. Accordingly, 10 units of rights shares will be issued for every 100 units held.

Further items on the AGM agenda include the endorsement of the company’s annual report and financial statements of the previous fiscal year, including the auditor’s report. A proposal will also be tabled to appoint a new auditor for the current fiscal year and determine their remuneration.

Additionally, the meeting will address the appointment of directors, propose amendments to provisions concerning directors’ remuneration and facilities, and seek shareholder approval to authorize the board to make necessary changes to the company’s Memorandum of Association and Articles of Association.