Prabhu Insurance: 29th AGM Concludes with Dividend Announcement and Shareholder Updates
Prabhu Insurance, a leading insurance company in Nepal, recently held its 29th Annual General Meeting (AGM). The AGM, which took place at the Prabhu Complex in Tinkune, Kathmandu, on Friday, was a significant event for shareholders and stakeholders alike. This article provides a comprehensive overview of the key decisions and announcements made during the meeting.
A major highlight of the AGM was the approval of the dividend proposal. Shareholders will receive an 18% bonus share from the paid-up capital. Additionally, they will also receive a cash dividend of 0.9474% to cover taxes. This is great news for those who have invested in Prabhu Insurance.
Furthermore, the AGM saw adjustments made to the previously proposed rights issue. The proposal to issue a rights share of 50.15% was amended, and now, a 47% rights share will be issued. This adjustment reflects the company’s strategic planning for future growth and stability. If you’re a shareholder, it’s important to stay up-to-date with these changes.
The AGM also included discussions on the financial statements for the fiscal year 2080-81, including the annual report, profit and loss statement, and cash flow statement. These reports offer transparency and insight into the company’s performance and financial health. Shareholders received a detailed look into how Prabhu Insurance performed over the past year.
In addition, the meeting addressed the appointment of auditors and the determination of their remuneration for the fiscal year 2081-82. This ensures the financial integrity and compliance of the company’s operations.
For the purpose of dividend distribution, the company closed its books on July 18th (Shrawan 2nd). Shareholders who had their shares traded on the Nepal Stock Exchange (NEPSE) by July 17th (Shrawan 1st) were eligible to receive the announced dividends. This ensures that only eligible shareholders benefit from the dividend payouts.
Overall, the 29th AGM of Prabhu Insurance was a success, demonstrating the company’s commitment to its shareholders and its continued growth in the insurance market in Nepal. Stay tuned for more updates on Prabhu Insurance and the insurance sector in Nepal.
