Shikhar Insurance Company Limited (SICL) has announced its plan to distribute a 10.5263% dividend for the fiscal year 2080/81. This decision was made during the 345th Board of Directors meeting, held on Magh 15. The proposed dividend will be distributed on the company’s paid-up capital of Rs. 2.65 Arba. Below are the key details of the dividend proposal:
1. Breakdown of the Dividend
The proposed dividend consists of two components:
- Bonus Shares: 10% bonus shares, slightly over Rs. 26.54 crores.
- Cash Dividend: 0.5263% cash dividend (including tax), worth Rs. 1.39 crores.
2. Approval Process
The dividend distribution is subject to the following approvals:
- Nepal Insurance Authority: The proposal must first be approved by the regulatory authority.
- Annual General Meeting (AGM): The dividend will also require endorsement from the company’s upcoming AGM.
Once these approvals are secured, the dividend will be distributed to the shareholders.
3. Current Market Performance
As of the latest update, Shikhar Insurance Company Limited (SICL) has a Last Traded Price (LTP) of Rs. 795.20. This reflects the market’s current valuation of the company’s shares.
Dividend History:
Conclusion
Shikhar Insurance Company Limited (SICL) has proposed a 10.5263% dividend for FY 2080/81, comprising 10% bonus shares and a 0.5263% cash dividend. The distribution is pending approval from the Nepal Insurance Authority and endorsement at the upcoming AGM. This move highlights the company’s commitment to rewarding its shareholders while maintaining a strong financial position. Investors and stakeholders will be closely watching for the final approvals and the impact of this dividend on the company’s share performance.
About Shikhar Insurance Company Limited (SICL)
The Company was established on Mangsir 2, 2061, and was founded by a team of passionate visionaries. Our mission is to address key challenges in the insurance industry, such as offering affordable, client-focused policies, bridging the gap in technical expertise, and introducing innovative products that meet international standards.
At SICL, we believe the relationship between the insurer and the insured is built on trust. Our goal is to set industry benchmarks by delivering exceptional service through a team of dedicated professionals. We are committed to creating value for our clients while contributing to the growth of the local insurance market.