IME Life Insurance (ILI) Proposes 34.5% Dividend for FY 2079/80; How Much in Bonus Shares and Cash?

Kathmandu, Baisakh 20.   IME Life Insurance Company Limited (ILI) has declared a 34.5% dividend for the fiscal year 2079/80, as announced in their recent board meeting held on Baisakh 19, 2081 BS. This decision marks a significant development for the company and its shareholders.

The dividend distribution plan entails a combination of bonus shares and cash dividends. According to the proposal, ILI aims to distribute 25% bonus shares and 9.5% cash dividends (including provisions for tax purposes). The bonus shares are valued at Rs. 1 Arba, while the cash dividend amounts to Rs. 38 Crores. At a paid-up capital of Rs. 4 Arba as of Ashad's end in 2080 BS, the total dividend payout is estimated to be Rs. 138 Crores.

This dividend declaration comes after a period of no dividend distribution in the previous fiscal year 2078/79. The decision reflects ILI's commitment to rewarding its shareholders while maintaining financial stability and growth.

However, it's important to note that the dividend distribution is contingent upon approval from the Nepal Insurance Authority and endorsement at the upcoming Annual General Meeting (AGM) of the company. Once these regulatory formalities are completed, ILI will proceed with the dividend distribution as planned.