Neco Insurance Limited has announced that its 30th Annual General Meeting (AGM) will be held on Falgun 11. The decision was made at the company’s Board of Directors meeting held on Magh 15. The AGM will take place at Lisara Reception, Naxal, Kathmandu, starting at 11:00 AM.
During the meeting, shareholders will discuss and approve the Board’s proposal to distribute a 12.7894% cash dividend (including tax) and 3% bonus shares from the previous fiscal year’s profit. The bonus shares will be distributed at a rate of 3 shares for every 100 held.
The AGM will also review and approve the annual report, audit report, and complete financial statements of the last fiscal year, presented by the Chairman on behalf of the Board. In addition, the shareholders will consider appointing auditors for the current fiscal year under Section 111 of the Companies Act and determining their remuneration.
Shareholders will also authorize the Board of Directors to make necessary amendments to the company’s Articles of Association and bylaws.
For the purposes of the AGM and dividend distribution, the company has declared Magh 25 as the book closure date. Only shareholders registered with the Nepal Stock Exchange (NEPSE) as of Magh 24 will be eligible to participate in the AGM and receive dividends.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
