Country Development AGM to offer 12% cash, 4% stock dividend

ShareSansar May 21:

Country Development Bank will be holding its 7th Annual General Meeting on Jestha 30 at Araniko Party Venue, Banepa, Kavre, at 10:30 am.

Earlier it was scheduled to be held on Baishak 19 but was postponed because of the massive earthquake of Baishak 12.

The company’s Board of Directors have proposed 12% cash dividend and 4% bonus shares for the shareholders from the net profit it earned in last fiscal year 2070/71.

The other agendas of the meeting include financial highlights of 2070/71, appointment of an auditor, increment of capital and also to amend the article of association and regulations to convert 19% of the promoter shares into ordinary shares.

The promoter-public ratio which currently stands at 70%-30% will change to 51%-49% after the converted shares are bought by ordinary shareholders.