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Sun Nepal Life Insurance to Hold 7th AGM, Declares Dividend and Bonus Shares

Sun Nepal Life Insurance Company Limited (SNLI) has announced its 7th Annual General Meeting (AGM) scheduled for the 9th of Jestha, 2081. The meeting will take place at Amritbhog Catering, Kalikasthan, Kathmandu, commencing at 10:00 AM.

One of the key agendas for the AGM is the endorsement of a 25.0526% dividend for the fiscal year 2079/80. The decision, made during the 99th Board of Directors meeting on Falgun 11, includes the distribution of a 23.8% bonus share worth Rs. 76.16 crores and a 1.2526% cash dividend worth Rs. 4.00 Crore (inclusive of tax).

Additionally, the meeting will entail the endorsement of the auditor’s report, including profit and loss statements, financial reports, and cash flow reports. Moreover, the appointment of an auditor for the fiscal year 2080/81 will be discussed, alongside the election of one director from the public shareholding group.

To address a capital deficit of Rs. 1.04 Arba, SNLI has proposed issuing 27% right shares after adjusting for the allocation of 23.8% bonus shares from the existing paid-up capital of Rs. 3.20 Arba. This adjustment aims to enhance the paid-up capital to Rs. 3.96 Arba after incorporating the bonus shares, ensuring compliance with the Rs. 5 Arba capital requirement mandated by the Nepal Insurance Authority (NIA) for life insurance companies.

Shareholders are advised that the book closure date is on Baishakh 27. Hence, those maintaining shares before this date will be entitled to the dividend payout and are invited to participate in the upcoming AGM.


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