Life Insurance Corporation Nepal Limited (LICN) has announced that it will not be distributing any dividends for the Fiscal Year 2079/80. This decision was made during the 132nd Board Meeting held on Baishakh 17, 2081.
In a recent corporate development, LICN revealed that the company’s board of directors has decided against distributing dividends for the fiscal year ending 2079/80. This decision comes amidst various considerations and discussions regarding the company’s financial performance and strategic outlook.
However, it’s important to note that the decision to withhold dividends is subject to approval from the Nepal Insurance Authority, the regulatory body overseeing insurance operations in the country. Additionally, the final decision will be confirmed during the upcoming Annual General Meeting of the company, where shareholders will have the opportunity to review and discuss the financial statements and other pertinent matters.
The announcement of no dividend distribution for FY 2079/80 reflects LICN’s commitment to transparent corporate governance practices and financial prudence. It underscores the company’s focus on maintaining stability and ensuring long-term sustainability in line with regulatory requirements and industry standards.