Kamana Sewa Bikas Bank's 20th AGM Concludes, 15 Percent Cash Dividend Passed
The 20th Annual General Meeting of Kamana Sewa Bikas Bank Limited has passed a 15 percent cash dividend (including tax) on paid-up capital. The meeting also unanimously approved the financial statements for FY 2082/83 and the proposal to appoint an auditor.
Kathmandu — The 20th Annual General Meeting of Kamana Sewa Bikas Bank Limited was held on Bhadra 31 at Amrapali Banquet, Bhatbhateni, Kathmandu. The meeting, chaired by Sudeep Acharya, Chairman of the Bank's Board of Directors, made important decisions in the interest of shareholders.
The meeting passed a 9 percent proportional dividend for preference shareholders for the period from the date of allotment of preference shares to Ashadh end 2083, and a 15 percent (including tax) cash dividend on paid-up capital for ordinary shareholders.
Likewise, the meeting unanimously approved the annual financial statements for FY 2082/83, including the auditor's report, balance sheet, profit and loss account, cash flow statement, profit and loss appropriation account, and related schedules. The proposal to appoint N.B.S.M. and Associates as the external auditor was also passed.
During the AGM, shareholders' queries were addressed by Bank Chairman Sudeep Acharya and Chief Executive Officer Dinesh Thakali. Responding to the queries, CEO Thakali stated that the bank has been successful in consistently distributing double-digit dividends and is committed to making the institution sustainable and strong in the days ahead.