The share price of NECO Insurance (NIL) has been adjusted. As soon as the insurance company closed the book for the purpose of general meeting and dividend distribution, Nepse adjusted the share price and fixed the new price.
Nepse has adjusted 15 percent bonus shares of insurance on this day. After the adjustment, the share price of the insurance company has remained at Rs 1,043.48.
Nepse has adjusted the share price of insurance based on the last price of the previous trading day. The last trading day was on Monday at Rs 1,200 per share.
The insurance company had announced to distribute 15 percent bonus share from the last financial year’s profit and 0.79 percent cash dividend for tax purposes. The insurance company has convened its 26th annual general meeting on chaitra 9 at its central office, Bima Bhawan, Gyaneshwar, Kathmandu on Wednesday. The meeting will start at 11 am.
The meeting will also pass the dividend proposal as well as proposals to empower the board of directors to make necessary amendments in the management letter and rules and appoint auditors.
For the purpose of the general meeting, the insurance company is going to close the book on the 1st of Chaitra. Therefore, the existing shareholders who have been traded on Nepse till the previous trading day will be able to participate in the general meeting of the insurance company and receive the dividend distributed by the insurance company.