Himalayan Everest Insurance Limited (HEI) has proposed a 2.89% dividend for the fiscal year 2078/79. This is the first-ever dividend proposed by the company.

The 297th meeting of the board of directors held on Poush 26 decided to distribute the dividend on the paid-up capital of Rs. 2.23 Arba. 2.75% bonus shares and 0.14% cash dividend have been proposed. Thus, the bonus shares are worth Rs. 6.15 crores, and the cash dividend is worth Rs. 32.42 lakhs. The cash dividend has been proposed for the tax amount on bonus shares.

The dividend will be distributed only after approval by Nepal Insurance Authority and endorsement by the company's upcoming AGM. HEI closed at Rs. 483 yesterday.