Reliable Nepal Life Insurance Limited (RNLI) has put forward a proposal for a dividend of 16.84% for the fiscal year 2079/80. This marks a significant move as it represents the company’s inaugural dividend offering. The decision was made during the 126th board of directors meeting held on Poush 24. The proposed dividend will be distributed based on the paid-up capital of the company, which stands at Rs. 4 Arba. The distribution includes 16% bonus shares, equivalent to Rs. 64 crore, and a 0.84% cash dividend, totaling Rs. 3.36 crore. The cash dividend is specifically proposed to cover the tax amount associated with the issuance of bonus shares.
It’s important to note that the dividend distribution is contingent upon approval from the Nepal Insurance Authority and subsequent endorsement during the company’s upcoming Annual General Meeting (AGM). RNLI concluded trading at Rs. 558.00 on the last trading day.
This dividend proposal reflects the company’s commitment to providing returns to its shareholders and acknowledges the financial performance of Reliable Nepal Life Insurance Limited during the mentioned fiscal year. The final approval and distribution of the dividend will be subject to regulatory and shareholder approval processes.