Kathmandu. Shikhar Insurance Company Limited has declared a dividend from the profits of the Fiscal Year 2076/77. A meeting of the company's board of directors held on December 6 proposed to distribute 27.769 per cent bonus shares of the paid-up capital and 1.462 per cent cash dividend for bonus tax purposes. At present, the company's paid-up capital is Rs 1.37 billion.

The insurance company had decided to distribute a total of 38 percent dividend with a bonus of 36.1 percent and a cash dividend of 1.9 percent of the paid-up capital till mid-July of the last fiscal year. However, due to the increase in paid-up capital issued by the insurance company in this fiscal year, the dividend based on the paid-up capital after the rights issue has come down to 29.231 percent.

As of mid-July 2077 BS, the paid up capital of the insurance company was Rs. 1.5 billion, while in the fiscal year 2077/78 BS, the company has increased its paid up capital to Rs. 1.37 billion.