KATHMANDU: Nepal Life Insurance Co Ltd (NLIC) has proposed a 51 per cent dividend for fiscal 2019-20. The bank’s 311th board meeting held on Tuesday has proposed a 20 per cent cash dividend and 31 per cent bonus shares from its profit for the year 2019-20. This decision is subject to approval from the Insurance Board after which it will be endorsed in the annual general meeting of the company, as per a media release. The share price of the company had surged by 9.96 per cent to close at Rs 2,351 on Tuesday.