Kathmandu. Neco Insurance Company has decided to close the book on May 15 for dividend and general purposes. As May 15 is a public holiday, only the shareholders who have been retained till Sunday will be eligible to receive the company’s dividend and participate in the meeting.
The insurance company has called its 29th annual general meeting today. A meeting of the board of directors of the company held on Thursday decided to hold the agm on May 15. The meeting will begin at 11:00 am at Lisara Reception in Naxal, Kathmandu.
Last fiscal year 2080. It will approve a total dividend of 7.3684 percent of the existing paid-up capital proposed for 81. This includes 7 percent bonus share and 0.3684 percent cash dividend for tax purposes.
The Assembly will pass a special resolution to amend the Memorandum of Management and Regulations and authorize the Board of Directors to implement the suggestions or directives received from the regulatory body for the same. The assembly will also approve another special proposal to increase the issued capital and paid-up capital accordingly after the distribution of bonus shares.
The assembly will approve the annual and auditor’s report of the last fiscal year and approve the proposal regarding the appointment of auditors and determination of their remuneration for the current financial year.
