Sun Nepal Life Insurance Calls 7th AGM, Announces Dividend Payout ➤

Sun Nepal Life Insurance Calls 7th AGM, Announces Dividend Payout

Shareholders to Receive 23.8% Stock and 1.25% Cash Dividend, 27% Right Share Issue on the Cards

Sun Nepal Life Insurance (SNLI) has announced its 7th Annual General Meeting (AGM), scheduled for May 22, 2024, at 10 AM, at Amritbhog Caterers, Kalikasthan, Kathmandu. The AGM will deliberate on several key proposals, including dividend distribution and a rights issue.

Among the notable agenda items, the meeting will endorse a proposal to distribute a 23.8% stock dividend and a 1.25% cash dividend for tax purposes to its shareholders. Additionally, the AGM will consider approving a 27% rights share issue, granting the Board of Directors the authority to amend the company’s Articles and Memorandum of Association, appointing an auditor, and electing one director from the ordinary shareholders.

In preparation for the AGM, Sun Nepal Life Insurance will close its book on May 9, 2024. Consequently, shareholders registered in the company’s book as of May 8, 2024, will be eligible to attend the AGM and receive the announced dividends.

The announcement of the 7th AGM and the proposed dividend payout and rights issue by Sun Nepal Life Insurance (SNLI) highlights the company’s commitment to shareholder value creation and adherence to corporate governance best practices. Investors and industry stakeholders will closely monitor the proceedings of the AGM, as the decisions taken could have significant implications for the company’s future growth prospects and the overall insurance sector in Nepal.