Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Sanima GIC Insurance Limited has announced a dividend for its shareholders from the profits earned in the fiscal year 2081/82 (2024/25), with the company proposing to distribute 5 percent bonus shares.
A meeting of the company’s board of directors held on Friday decided to provide the bonus shares equivalent to 5 percent of the paid-up capital, amounting to Rs 107.5 million (Rs 10 crore 75 lakh) to its shareholders.
According to the insurer, the proposed bonus shares will be issued from the profit generated during the last fiscal year, reflecting the company’s continued financial performance in Nepal’s non-life insurance sector.
Cash Allocation for Tax on Bonus Shares
The company has also allocated Rs 5.657 million (Rs 56 lakh 57 thousand) as cash dividend to cover the tax liability associated with the bonus share distribution.
Currently, Sanima GIC Insurance Limited has a paid-up capital of Rs 2.15 billion.
Regulatory Approval Required
The proposed dividend distribution will be implemented only after receiving approval from the Nepal Insurance Authority and endorsement from the company’s upcoming Annual General Meeting (AGM).
Once approved, eligible shareholders will receive the bonus shares as part of the company’s dividend payout for the fiscal year.
In the previous fiscal year, the insurer had distributed 7.5 percent bonus shares to its shareholders.
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