Kathmandu. Today is the last day to secure the attractive dividend of Citizen Life Insurance Company, Falgun 27.
The company is closing its books for one day tomorrow, Falgun 28, for the purpose of the annual general meeting and dividend distribution. This means that shareholders who hold shares till Falgun 27 will be eligible to receive the company’s dividend and participate in the meeting.
The company has called its eighth annual general meeting on Chaitra 15. The meeting will begin at 11 am at Amrapali Banquet in Naxal, Kathmandu.
The meeting will pass a proposal to distribute a total dividend of 28.4 percent of the current paid-up capital from the distributable profit of the last fiscal year 2080.81. Which includes 26.98 percent bonus shares and 1.42 percent cash dividend for tax purposes.
The meeting will pass a proposal to amend the provision regarding immediate paid-up capital in Section 6(c) of the company’s articles of association, as the paid-up capital of the company will reach Rs 5 billion after the issue of bonus shares.
The same meeting will discuss and approve the annual report of the Board of Directors for the fiscal year 2080.81, including the Chairman’s remarks. The meeting will discuss and approve the financial statements for the fiscal year 2080.81, including the auditor’s report, including the balance sheet, profit and loss account, changes in equity and cash flow statement and related schedules.
The meeting will approve the proposal to appoint an external auditor for the fiscal year 2081.82 as recommended by the Audit Committee and to determine his remuneration (the current auditor, Mr. SAR Associates, Chartered Accountants, will be eligible for reappointment).
The meeting will approve the expenses incurred by the company under corporate social responsibility, and to make any changes, if any, from the body recording the amended memorandum of association or the regulatory body, to do so accordingly. Will pass a resolution granting authority to the Board of Directors.
