Citizens Bank's 20th AGM on Ashwin 28, Proposes 3.80% Bonus and 0.20% Cash Dividend
Citizens Bank International Limited has called its 20th Annual General Meeting on Ashwin 28 in Kathmandu. The meeting will pass resolutions including a 3.80% bonus share and 0.20% cash dividend, along with financial statements, auditor appointment, and memorandum amendments.
Citizens Bank International Limited has convened its 20th Annual General Meeting (AGM) for Ashwin 28 at Amritbhog, Kalikasthan, Dillibazar, Kathmandu, starting at 11 AM. As decided by the bank's Board of Directors, the meeting will discuss and approve the annual report for fiscal year 2082/83, the auditor's report, the consolidated financial statements of the bank and its subsidiaries, profit and loss account, and cash flow statement.
According to the board's proposal, the meeting will present a proposal to distribute 3.80 percent bonus shares to ordinary shareholders from the paid-up capital. The total value of the bonus shares amounts to Rs 589,283,617.34. Additionally, the bank has proposed a 0.20 percent cash dividend (including tax) on the paid-up capital, amounting to Rs 31,014,927.23.
The meeting will also pass a proposal to appoint an auditor and determine remuneration for the current fiscal year's audit, based on the recommendation of the Audit Committee. Under special proposals, there are resolutions to amend the bank's memorandum of association and increase issued and paid-up capital. During the memorandum amendment, a proposal will also be presented to authorize the Board of Directors to make necessary additions, deletions, and amendments as per directives from the relevant regulatory bodies.