Cancellation of Citizen Life Insurance's Planned 28.40% Dividend Distribution

Kathmandu Baisakh 25. The Nepal Insurance Authority has revoked the dividend proposal put forth by Citizen Life Insurance Company Limited (CLI). In its 106th Board of Directors meeting held on Baisakh 23, Citizen Life Insurance Company Limited (CLI) proposed a dividend of 28.404347%. The proposed distribution included 26.98412698% bonus shares and 1.42022% cash dividend for tax purposes, totaling 28.40%.

However, according to a notice from the Nepal Stock Exchange (NEPSE), the aforementioned dividend proposal has been canceled. Despite the requirement for approval from the Nepal Insurance Authority, the proposal was not accepted, leading to its cancellation.