Care Ratings Nepal announces AGM; 21.05% cash dividend for FY 2075/76

Fri, Oct 9, 2020 10:54 AM on Latest, AGM/Special AGM, Credit Rating,

Care Ratings Nepal Limited has announced its 3rd AGM for the fiscal year 2076/77.

The AGM will be held on Monday, 3rd Kartik (October 19). It will be organized at Care Ratings Nepal's office itself in Star Mall, Kathmandu.

The AGM will discuss the company's profit-loss balance and the cashflow statement among other agendas. Also, a 21.05263% cash dividend for the fiscal year 2076/77 (including tax) will be endorsed.

CARE Ratings Nepal Limited (CRNL) is incorporated in Kathmandu, Nepal, and is the second credit rating agency to be licensed by the Securities Board of Nepal w.e.f. November 16, 2017. CRNL provides credit ratings and related services in Nepal.

As of December 01, 2017, CRNL’s major shareholders are CARE Ratings Limited, India (CARE Ratings), Vishal Group Limited, Emerging Nepal Limited, Nepal Reinsurance Company Limited, Global IME Bank Limited, Prudential Insurance Company Ltd., and Life Insurance Corporation Nepal Ltd. The majority shareholding is with CARE Ratings.

CRNL has constituted its Rating Committee with members comprising officials from CARE Ratings, India. In Nepal, CRNL provides ratings for various instruments such as bonds, debentures, commercial paper, bank deposits, structured finance, and other debt instruments apart from IPO, FPO, and right issues grading.