In preparation for the upcoming Annual General Meeting (AGM) of Nepal Reinsurance Company (NRIC), the Nepal Stock Exchange (NEPSE) has adjusted the company’s stock price to reflect its dividend distribution. The adjustment comes as NRIC approaches its 9th AGM scheduled for May 30 at Anupam Foodland and Banquet in Battisputali, Kathmandu.
On the day of the adjustment, NEPSE revised the stock price of NRIC to Rs. 661.58 after factoring in a 4.75 percent stock dividend. The last trading price of the stock before the adjustment was Rs. 693 on May 16.
One of the key agenda items for the AGM is the endorsement of a proposal to distribute a 4.75 percent stock dividend and a 0.25 percent cash dividend to NRIC’s shareholders. This dividend distribution has necessitated the adjustment in the stock price by NEPSE to reflect the company’s updated valuation.
In addition to the dividend proposal, the AGM will also address several other important matters. These include the approval of proposals related to corporate social responsibility expenses, granting authority to the Board of Directors to amend the company’s articles and memorandum of association, appointing an auditor, and electing a director from promoter shareholders other than the government.
The adjustment of NRIC’s stock price by NEPSE is a routine procedure undertaken to ensure accurate valuation and trading of the company’s shares on the stock exchange. This practice is vital for maintaining transparency and fairness in the market, ensuring that investors are aware of the company’s financial standing and dividend distributions.
As NRIC prepares for its AGM, the adjusted stock price will provide a more accurate representation of the company’s value, taking into account the proposed dividend payout. Investors and market analysts will closely monitor the proceedings of the AGM and the subsequent impact on the company’s stock performance.
SEO Keywords: nepse, nepal stock exchange, nric, nepal reinsurance company, stock price adjustment, agm, annual general meeting, dividend distribution, stock dividend, cash dividend, corporate social responsibility, articles of association, memorandum of association, auditor appointment, director election, promoter shareholders, government shareholders, kathmandu news, nepal business news, nepal finance news, nepal stock market news, nepal reinsurance industry.
