KATHMANDU: The Nepal Reinsurance Company (NRIC) has proposed a 20% dividend for the fiscal year 2076/77 BS. This is the company’s first dividend after being listed in Nepal Stock Exchange (NEPSE).
The meeting of the board of directors held on June 21 has decided to distribute a 16.5% bonus shares and 3.5% cash dividend.This dividend is distributed from the distributable profits and the share premium.
The paid-up capital of the company is Rs. 10 billion. As of writing, the company has an Last Traded Price (LTP) of Rs. 1,753. Nepal Reinsurance Company has posted a net profit of Rs 536.94 million.
Nepal Reinsurance Company was formally inaugurated on 22nd December 2014. It was established in the PPP Model with equity participation of Government of Nepal, Insurance companies (both life and Non-life) as well as the public limited companies operating in Nepal.
Altogether, there are 32 stakeholders including Government of Nepal, 17 non-life insurance companies and 8 Life insurance companies operating in Nepal and six Public companies.
The company is the first reinsurance company in Nepal with the paid-up capital of Rs 5 billion (approx. USD 50 million), the company says.
