Prabhu Life Insurance Limited (PLI) has proposed a dividend of 10.526% for the fiscal year 2077/78. This is the first dividend the company has proposed since being listed on the Nepal Stock Exchange (NEPSE).
The company’s board of directors, at its 140th meeting held on Baisakh 25, has decided to distribute a dividend consisting of 10% bonus shares and 0.526% cash dividend (including tax). PLI has a paid-up capital of Rs. 2 Arba, making the bonus shares worth Rs. 20 crores and the cash dividend worth Rs. 1.05 crores.
However, it’s important to note that this dividend is subject to approval by the Nepal Insurance Authority and endorsement at the upcoming AGM.
As of writing, the company’s closing price on the last trading day stands at Rs. 390.
