Prabhu Insurance Company Limited (PRIN) has announced that it plans to give a total dividend of 18.95% to its shareholders for the fiscal year 2080/81.
This decision was made during the company’s 449th board meeting held on Ashad 08. Out of the total 18.95% dividend, 18% will be given as bonus shares, which means shareholders will receive extra shares for free. The remaining 0.95% will be given in cash to help cover taxes on the bonus shares.
The company currently has a paid-up capital of Rs. 1.44 Arba (14.4 billion rupees). However, this dividend plan still needs approval from the Nepal Insurance Authority and must also be approved by shareholders at the company’s next annual general meeting (AGM).
On the day before the announcement, the market price of Prabhu Insurance shares was Rs. 834.34.
