Citizen Life Insurance proposes a dividend of 28.40%; How Much in Bonus Shares and Cash?

Kathmandu Baisakh 24.  Citizen Life Insurance Company Limited (CLI) has proposed a dividend of 28.404347%. The proposed distribution includes 26.98412698% bonus shares and 1.42022% cash dividend for tax purposes. The value of bonus shares amounts to Rs. 1.06 Arba, while the cash dividend, including tax considerations on bonus shares, stands at Rs. 5.59 Crores.

The decision to distribute dividends at this rate was made at the meeting of the Board of Directors held on Baisakh 23.

Following the adjustment for bonus shares, CLI's paid-up capital will be Rs. 5 Arba.

After approval from the Nepal Insurance Authority and subsequent endorsement at the upcoming Special General Meeting, the distribution of these dividends will take place.