Shine Resunga Development Bank Calls 18th AGM for Ashwin 28 to Endorse 16% Dividend
Shine Resunga Development Bank has convened its 18th Annual General Meeting (AGM) on Ashwin 28 to approve a 16% dividend from the profits of the previous fiscal year. The bank has proposed 6% bonus shares and a 10% cash dividend. The book closure for the AGM and dividend distribution was already completed on Ashwin 13.
Shine Resunga Development Bank has called its 18th Annual General Meeting (AGM) for Ashwin 28. The decision was taken by the bank's Board of Directors, scheduling the meeting at Hotel Saffron CK in Butwal, Rupandehi, starting at 11:30 AM.
The AGM will formally approve a total dividend of 16% on the current paid-up capital from the distributable accumulated profit of the previous fiscal year 2082/83. The breakdown of the proposed dividend is as follows:
- 6% Bonus Shares
- 10% Cash Dividend (including tax)
Additionally, the meeting will endorse a special resolution authorizing the Board of Directors to amend the Memorandum and Articles of Association as directed by regulatory authorities. A proposal regarding the increase of board meeting allowances and other facilities for directors will also be passed.
Furthermore, the AGM will approve the annual and auditor's reports for the previous fiscal year, while also approving the appointment and remuneration of the auditor for the current fiscal year 2083/84.
For the purpose of the AGM and dividend distribution, the bank had already executed its book closure on Ashwin 13.