Jyoti Bikas Bank 8th AGM today; to endorse 9% stock dividend

Jyoti Bikas Bank Limited (JBBL) is holding its 8th Annual General Meeting (AGM) today (Kartik 22, 2072). The AGM is going to be held at Nepal Pragya Pratisthan, Kamaladi, Kathmandu at 9 AM. The main agendas of the AGM are:

• The AGM is expected to endorse 9% bonus share and 0.4736 % cash dividend for tax purpose as proposed by the BoD of the bank.
• To increase authorized capital, issued capital and paid of capital and amend article of association accordingly.
• Authorize BOD to initiate merger and acquisition process with other financial institutions.

Other agendas of the AGM are the financial highlights of 2071/72 and appointment of auditor. Only those shareholders owning shares till Kartik 01 will be entitled to the dividend of the company. The register of their shareholders will remain close from Kartik 2, 2072 till Kartik 22, 2072 for the purpose of its upcoming (AGM). Jyoti Bikas Bank had earned net profit of Rs.9.76 crore in its fourth quarter of the last fiscal year 2071/72.