Siddhartha Bank's 20 Percent Dividend: Book Closure on Ashwin 16, Who Qualifies?
Siddhartha Bank has announced a total 20 percent dividend (10% bonus and 10% cash) for fiscal year 2082/83. Shareholders must hold shares by Ashwin 16 to qualify, and the 25th Annual General Meeting will be held on Ashwin 28.
Kathmandu — Siddhartha Bank has decided to close its books on Ashwin 16 for dividend distribution and annual general meeting purposes. This means only shareholders who hold shares until Ashwin 16 will be eligible to receive dividends and participate in the meeting.
The bank will distribute a total 20 percent dividend on its current paid-up capital of Rs 14 arba 79 crore 44 lakh 79 thousand 195. This includes:
- 10 percent bonus shares: equivalent to Rs 1 arba 47 crore 94 lakh 47 thousand 920
- 10 percent cash dividend (including tax): equivalent to Rs 1 arba 47 crore 94 lakh 47 thousand 920
To approve 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.
Additionally, the meeting will 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 bonus share distribution, the meeting will approve a special proposal to amend the memorandum 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 same meeting will approve the annual and auditor's reports for the previous fiscal year, as well as endorse the proposal regarding the appointment of an auditor and determination of their remuneration for the current fiscal year 2083/84.