Garima Development Bank's 20th Annual General Meeting Concludes, 20 Percent Dividend Approved
The 20th Annual General Meeting of Garima Development Bank Limited was held on Ashwin 26 in Pokhara. The meeting approved a proposal to distribute a total of 20 percent dividend, comprising a 10 percent bonus share and a 10 percent cash dividend.
Kathmandu. The 20th Annual General Meeting of Garima Development Bank Limited was held on Monday, Ashwin 26, at Hotel Pokhara Grande in Pokhara Metropolitan City, Kaski district.
The meeting passed all the proposals presented, including the proposal to distribute a total of 20 percent dividend to shareholders — 10 percent bonus share and 10 percent cash dividend (including tax on the proposed bonus share and cash dividend) on the current paid-up capital.
The general meeting approved the bank's annual report for fiscal year 2082/83, the balance sheet as of Ashad end 2083 along with the auditor's report, the profit and loss account for FY 2082/83, cash flow statement, profit-loss appropriation account, statement of changes in equity, and related schedules, as well as the appointment of an auditor for the audit of FY 2083/84.
The bank's current paid-up capital stands at Rs. 6 arba 2 crore 13 lakh 48 thousand 3 hundred 67 and paisa 22. After the distribution of the 10 percent bonus share approved by this annual general meeting, the bank's issued and paid-up capital will reach Rs. 6 arba 62 crore 34 lakh 83 thousand 2 hundred 3 and paisa 94.