IME Life Insurance Company Limited (ILI) has announced its plan to distribute a 21.05% cash dividend for the fiscal year 2080/81. This decision was made during a recent board of directors meeting, reflecting the company’s strong financial performance and commitment to rewarding its shareholders. Below are the key details of the dividend proposal:
1. Dividend Breakdown
- Cash Dividend: 21.05% of the paid-up capital.
- Total Dividend Amount: Rs. 1.05 Arba.
- Paid-up Capital: Rs. 5 Arba.
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. What This Means for Shareholders
- Eligibility: Shareholders registered in the company’s records before the book closure date (to be announced) will be eligible for the dividend.
- Payout: The cash dividend will be directly credited to shareholders’ accounts or distributed through other approved methods.
Dividend History:
Conclusion
IME Life Insurance Company Limited (ILI) has proposed a 21.05% cash dividend for FY 2080/81, amounting to Rs. 1.05 Arba. This move highlights the company’s strong financial health and its commitment to delivering value to shareholders. The dividend is pending approval from the Nepal Insurance Authority and endorsement at the upcoming AGM. Investors and stakeholders are encouraged to stay updated on further announcements regarding the book closure date and AGM details.