Shine Resunga Development Bank has announced the date for its upcoming annual general meeting. The bank will hold the meeting on Mangsir 26.
During the meeting, several key proposals will be presented, including dividend distribution. The bank has proposed a total dividend of 13% from its profit of fiscal year 2081/82. This includes:
- 3% bonus shares
- 10% cash dividend for tax purposes.
The bank’s current paid-up capital is Rs 4.87 billion. After the meeting approves it, the dividend will be distributed to investors.
For the purpose of the annual meeting, the bank has decided to close its books on Mangsir 12. Only shareholders who hold shares until Mangsir 11 can participate in the meeting and receive the proposed dividend.
The meeting will also discuss important merger-related plans. The bank will present a proposal to look for suitable banks and financial institutions for a merger or acquisition. This also includes signing a memorandum of understanding, applying for preliminary approval from Nepal Rastra Bank, hiring consultants and auditors for due diligence, and giving authority to the board of directors to carry out all related tasks.
These are the proposals that will be presented in the meeting:
