Kumari Bank AGM on April 30; 14% bonus share guaranteed

ShareSansar, April 1:

Kumari Bank Limited has finally announced its Annual General Meeting on April 30.

Issuing a notice today, the commercial bank has stated the 13th AGM will endorse 14 percent bonus shares to the shareholders from the net profit it posted in the last fiscal year 2069/70.

The bank has also pledged 0.74 percent cash dividend to cover the taxes on the pledged bonus share.

The AGM will also elect four directors among the promoter shareholders and one public director.

The tenure of the promoter directors will be four years at the most and the tenure of the public director to be elected through the AGM will be three years at the most in line with the tenure of the two public directors earlier elected to the board.

Kumari Bank Limited had posted 5.82 percent growth in profit in the last fiscal year.

The bank made profits of Rs 29.15 crore, a slight growth over Rs 27.55 crore reported in the previous fiscal year.