Siddhartha Bank Calls 25th AGM on Ashwin 28, 20 Percent Dividend to Be Approved
Siddhartha Bank has convened its 25th Annual General Meeting on Ashwin 28 in Kathmandu. The meeting will approve a total 20 percent dividend (10 percent bonus and 10 percent cash) for fiscal year 2082/83, along with an 8.5 percent cash dividend for preference shareholders.
Kathmandu . Siddhartha Bank has convened its 25th Annual General Meeting (AGM) . The bank's Board of Directors meeting decided to hold the meeting on Ashwin 28 at the Army Officers Club in Bhadrakali, Kathmandu, starting at 9 AM .
The meeting will approve a proposed total 20 percent dividend on the current paid-up capital of Rs 14 arba 79 crore 44 lakh 79 thousand 195 for the last fiscal year 2082/83 . This includes 10 percent bonus shares amounting to Rs 1 arba 47 crore 94 lakh 47 thousand 920 and 10 percent cash dividend (including tax) amounting to Rs 1 arba 47 crore 94 lakh 47 thousand 920 .
Similarly, the meeting will also pass a proposal to distribute an 8.5 percent cash dividend (including tax) amounting to Rs 10 crore 75 lakh 89 thousand 41 to preference shareholders .
Since the capital will increase after the distribution of bonus shares, the meeting will approve a special proposal to amend the Memorandum of Association and Articles of Association accordingly. A special proposal will also be passed authorizing the Board of Directors to make changes as per directives or suggestions received from regulatory bodies.
The meeting will also approve the annual and auditor's report for the last fiscal year, as well as a proposal regarding the appointment of the auditor and determination of their remuneration for the current fiscal year 2083/84 .
The bank has decided to book close on Ashwin 16 for dividend and meeting purposes. This means only shareholders holding shares before Ashwin 16 will be eligible to receive the dividend and participate in the meeting.