Sagarmatha Lumbini Insurance Company Limited (SALICO) has put forward a proposal to issue a 5% cash dividend for the fiscal year 2079/80. The decision to distribute this dividend was made during the 18th meeting of the board of directors held on Falgun 14. The proposed cash dividend is based on the existing paid-up capital of SALICO, which stands at Rs. 2.62 Arba.
It’s important to note that this dividend proposal is contingent upon approval from both the Nepal Insurance Authority and the forthcoming Annual General Meeting (AGM). The regulatory approval and the endorsement from the shareholders at the AGM are necessary steps before the dividend can be officially declared.
As of the latest available information, SALICO concluded its trading session at Rs. 658.00. This dividend announcement reflects the company’s intention to distribute a portion of its profits to its shareholders, providing them with a return on their investment in the form of cash dividends, pending the required approvals.