Sanima GIC Insurance Holds AGM, Approves Bonus Shares and Cash Dividend
Sanima GIC Insurance Limited has concluded its eighth Annual General Meeting, approving a 5% bonus share distribution along with a cash dividend for tax purposes.
Sanima GIC Insurance Limited has successfully concluded its eighth Annual General Meeting (AGM) at the Nepal Police Club in Kathmandu.
The meeting approved the proposal to distribute a 5% bonus share based on the company’s current paid-up capital of Rs. 2.15 billion, along with a 0.2632% cash dividend for tax purposes.
Accordingly, the company will distribute bonus shares worth Rs. 107.5 million and cash dividends totaling approximately Rs. 5.65 million.
The AGM also discussed and endorsed the annual report of the Board of Directors, along with the audited financial statements for fiscal year 2081/82, including the balance sheet, profit and loss account, cash flow statement, and related schedules.
In addition, the meeting authorized the Board of Directors to review the previously approved 17% rights share arrangement and make necessary amendments to the company’s memorandum and articles of association following the issuance of bonus shares.
The company had closed its share register for one day on Baisakh 23 for AGM purposes.