Kathmandu. Today is the last day to secure the dividend of Citizen Life Insurance Company Limited. The company will close its book on December 24 for the purpose of AGM and dividend distribution. Therefore, the shareholders who have been traded in NEPSE till December 23 will be able to participate in the stock and get dividend.
The company will hold its ninth annual general meeting on Friday, January 18. The meeting will be held at Amrapali Banquet, Bhatbhateni, Naxal, Kathmandu at 9.30 am. The 126th meeting of the company held on December 10 fixed the date for the meeting.
The company has decided to distribute Rs 1 billion cash dividend (including tax) to 20 percent of the current paid-up capital of Rs 5 billion from the distributable profit of the last fiscal year. The Assembly shall endorse the proposal.
The AGM shall discuss and approve the annual report of the Board of Directors for FY 2081/082 along with the statement of the Chairperson, the financial statement along with the statement of the Chairperson, the balance sheet of the FY 2081/82, the profit or loss account, the changes in equity and the details of cash flow and the related schedules.
The meeting will appoint an external auditor for the fiscal year 2082/083 as recommended by the audit committee pursuant to Section 111 of the Companies Act, 2063 and determine his/her remuneration (the present auditor will be eligible for re-appointment as SAR Associates, Chartered Accountants).
The meeting shall inform the General Meeting about the appointment of an independent director in accordance with the Insurance Act, 2079. The Board of Directors will endorse the proposal to approve the service facilities of the members, the donation made by the company and the expenses under Corporate Social Responsibility.
