HEI concludes 31st AGM, announces 8.75 pc cash dividend

KATHMANDU: Himalayan Everest Insurance (HEI) recently concluded its 31st annual general meeting (AGM)  in Kathmandu. HEI Chairman Mahendra Krishna Shrestha presided over the meeting.

The company's shareholder registration closed on February 27 for the purpose of the AGM and dividend distribution. Shareholders who were part of the company until February 26 will receive the company's dividend, according to HEI.

The AGM approved the annual report, balance sheet, profit and loss account, cash flow statement, changes in equity, etc, for the fiscal year 2023/24. It also approved a cash dividend of Rs 218,763,773 to be paid to shareholders from the profit of the same fiscal year, at a rate of 8.75% of the paid-up capital. Additionally, the meeting approved the appointment and remuneration of the company's external auditor for the fiscal year 2024/25, as recommended by the Audit Committee.

In his address at the AGM, Chairman Shrestha expressed confidence that the company will generate sustainable benefits by mobilising resources in the long term through investment in technology and talent. He also expressed his belief that the company will become a leader in the non-life insurance sector, supported by the trust and support of all stakeholders.

HEI CEO Anju Shrestha, in her welcome speech at the AGM, highlighted her efforts to make the organisation reputable at both national and international levels by providing services to non-life insurance customers using the latest technology.

Shareholders, including Jagannath Acharya, Uttam Datta Pandey, and Sudip Shrestha, delivered speeches on behalf of the shareholders. Many expressed happiness over HEI's payment of an 8.75% cash dividend.

Members of the Board of Directors and shareholders attended the AGM.