Shikhar Insurance Company Proposes 16.8421% Dividend for FY 2078/79; Decision Subject to Approval from Insurance Authority
2022-12-16
Shikhar Insurance Company Limited (SICL) has proposed a 16.8421% dividend worth Rs. 38.50 Crores for the fiscal year 2078/79.
The 287th meeting of the board of directors held on Mangsir 29 has decided to distribute the dividend on the paid-up capital of Rs. 2.28 Arba. 16% bonus shares worth Rs 36.57 Crores and 0.8421% cash dividend (including bonus shares tax purposes) worth Rs 1.92 Crores have been proposed.
The dividend will be distributed only after approval by Nepal Insurance Authority and endorsement by the company's upcoming AGM. As of writing, SICL has an LTP of Rs. 759.
With this the company will be in the position to meet the minimum paid up capital of Rs 2.5 Arba as mandated by the regulator body within the Chaitra month of current fiscal year.