Kathmandu, January 7
Life Insurance Corporation Nepal Limited (LICN) has proposed 30 percent bonus share to its shareholders from the net profit it posed in the last fiscal year of 2069/70.
The decision was taken by the company’s 66th BOD meeting which was held on Monday.
Amending its previous decision to
give 20 percent bonus share in 64th BOD meeting, the insurance company has decided to increase further 10 percent in its dividend declaration.
The leading insurance company has said that the bonus shares will be issued on the basis of the paid-up capital after the distribution of rights shares is completed. The company has also informed that after the completion of right share process, its paid up will be Rs 50.62 crore.
Currently it is distributing 25 percent rights issues to the shareholders.
The insurance company had posted first quarter net earnings of Rs 20.88 lakh, a huge slide from the corresponding quarter net earnings of 71.72 lakh.
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