Jyoti Bikas Bank finally holding its AGM today; 12.6 dividend confirmed

ShareSansar, July 16:

Six long months after its Board of Directors decided to pledged 12.60 percent dividend, including 7 percent bonus shares, to its shareholders from the net profit it posted in the last fiscal year 2069/70, Jyoti Bikas Bank Limited is finally holding its Annual General Meeting today.

The 157th BOD meeting of the development bank had pledged the dividend back in January second week.

The development bank based in Kathmandu has already announced the book closure from July 2 for its sixth AGM being held at the Tribhuwan Army Club.

According to Jyoti’s company secretary Madan Mahat, the central bank took a long time to approve the final balance sheet of the bank, citing some technical aspects of a project being funded by the bank.

Last month they had taken some central bank officials to the site of Jiri Khola Sana Hydropower project to show that the problem has been resolved.

The national level development bank, which was established with the aim of financing hydropower and infrastructure, has invested Rs 23 crore in Jiri Khola Sano Hydropower.

Jyoti Bikash Bank had posted a net profit of Rs 7.26 crore in the last fiscal year 2069/70.