Siddhartha Bank Proposes 20 Percent Dividend, 25th AGM on Ashwin 28
Siddhartha Bank has proposed a 20 percent dividend for its shareholders. The bank will hold its 25th Annual General Meeting on Ashwin 28 to pass the proposal. The meeting will also approve proposals for cash dividends to preference shareholders, capital increase, and auditor appointment.
Siddhartha Bank Limited has proposed a 20 percent dividend for its shareholders. To pass this proposal, the bank has decided to hold its 25th Annual General Meeting on Ashwin 28. The meeting will begin at 9 AM at the Army Officers Club in Bhadrakali, Kathmandu.
The meeting will also pass a proposal to distribute cash dividends (including tax) amounting to Rs 10 crore 75 lakh 89 thousand 41 to preference shareholders, calculated at 8.5 percent.
Since the capital will increase after the distribution of bonus shares, the meeting will approve a special proposal to amend the memorandum and articles of association accordingly. For this, the meeting will pass a special proposal authorizing the board of directors to make changes as per directives or suggestions received from regulatory bodies.
The same meeting will approve the annual and auditor's report of the last fiscal year, as well as the proposal related to the appointment of the auditor and determination of their remuneration for the current fiscal year 2083/84.