RBB Merchant Banking's AGM Concludes, 20 Percent Cash Dividend Proposal Passed
The eleventh annual general meeting of RBB Merchant Banking Ltd, a wholly-owned subsidiary of Rastriya Banijya Bank, has passed a proposal to distribute a 20 percent cash dividend, amounting to NPR 40 million including tax, from the distributable profit of fiscal year 2082/83. The meeting also approved the appointment of an external auditor and the appointment of newly appointed directors.
RBB Merchant Banking Ltd, established as a wholly-owned subsidiary of Rastriya Banijya Bank Limited, is set to distribute a 20 percent cash dividend to its shareholders. The company's eleventh annual general meeting decided to distribute a 20 percent cash dividend, amounting to NPR 40 million including tax, from the distributable profit of fiscal year 2082/83.
During the annual general meeting held at the meeting hall of Rastriya Banijya Bank's central office in Singhadurbar, the company's chairman Binay Raman Paudel presented the annual report for fiscal year 2082/83. After discussions on the report, the meeting passed the dividend distribution proposal.
The meeting also decided to appoint an external auditor for fiscal year 2083/84 and determine their remuneration. Additionally, the appointment of the company's newly appointed directors was approved.
At the meeting, Nimbal Shrestha, deputy chief executive officer of Rastriya Banijya Bank, participated representing the bank's 100 percent shareholding. Devendra Raman Khanal, chief executive officer of Rastriya Banijya Bank, was present as the chief guest.
The meeting was also attended by representatives from the Office of the Company Registrar, Nepal Stock Exchange (NEPSE), CDS and Clearing Limited, the external auditor, and auditors of RBB Mutual Fund 1 and 2.
According to the company's chief executive officer Badri Prasad Pyakurel, in fiscal year 2082/83, RBB Mutual Fund 1 distributed a 2.75 percent cash dividend and RBB Mutual Fund 2 distributed a 6 percent cash dividend. During the same period, RBB Merchant Banking decided to distribute a 20 percent cash dividend.