KATHMANDU: Siddhartha Bank has convened its 25th Annual General Meeting (AGM).
The meeting of the board of directors of the bank has decided to hold the meeting on October 12. The meeting will begin at 9 am at the Army Officers Club in Bhadrakali, Kathmandu.
The meeting approved a total dividend of Rs 14.79 billion for the current fixed paid-up capital of Rs 14.79 billion for the financial year 2082. The meeting will approve a total dividend of Rs 1.47 billion for the current paid-up capital of Rs 14.79 billion. This includes a 10 per cent bonus share of Rs 1,47,94,47,920 and a cash dividend (including tax) of Rs 1,47,94,47,920.
Similarly, the AGM will also endorse a proposal of distributing cash dividend of Rs 10,75,89,041 to the preference shareholders.
Since the capital will increase after the distribution of bonus shares, the meeting will approve a special proposal to amend the Memorandum of Association and Articles of Association accordingly. For this, the meeting will pass a special resolution authorizing the Board of Directors to make changes according to the instructions or suggestions received from the regulatory bodies.
The same meeting approved the annual and auditor’s report for the last fiscal year and the current fiscal year 2083. 84 will approve the proposal for the appointment of the auditor and the determination of his remuneration.
It has decided to close the book on October 16 for the purpose of dividends and meetings. This means that only shareholders who have been held before October 16 will be eligible to receive the dividend and participate in the meeting.
