Kamana Sewa Bikas Bank Limited has announced important updates for its shareholders. The bank is holding its 19th annual general meeting (AGM) soon, where several key decisions, including dividend distribution and board elections, will be made.
The AGM will take place on Asoj 24 at Lisara Reception in Naxal, Kathmandu, starting at 11 am.
One of the main agendas is the approval of dividends. The board has proposed a 10 percent bonus share and a 5.7895 percent cash dividend, including tax, for its shareholders. The meeting will also give full authority to the board of directors to make changes in the company’s rules and regulations if directed by regulators.
Along with this, the AGM will review and approve the auditor’s report and the financial statements for fiscal year 2081/82. This includes the balance sheet as of Ashar 2082, the cash flow statement, the profit and loss account, the statement of changes in equity, and other related schedules.
The bank will also appoint an auditor for fiscal year 2082/83 and fix their remuneration. Another important agenda is the election of six directors, with three representing the founder group and three representing the public group.
For the AGM and dividend distribution, the bank has decided to close its book on Asoj 8. This means only shareholders who hold shares until Asoj 7 will be eligible to attend the meeting and receive the proposed dividend.
