Progressive Finance Calls AGM to Endorse 6.3158% Dividend
Sun, Mar 6, 2022 11:51 AM on Latest, AGM/Special AGM,
Progressive Finance Company Limited has re-scheduled its 25th AGM on 16th Chaitra, 2078. The meeting will be held in Jyapu Pragya Bhawan, Lalitpur, starting at 1 pm that day.
The company had previously called its 25th AGM on 30th Poush, 2078. Because of the unfavorable condition created by Covid-19, the AGM was postponed. Furthermore, the company also saw a technical error in its financial reports due to changes in the tax provision.
Among other agendas, the AGM will endorse a 6.3158% dividend for the fiscal year 2077/78.
The company had previously proposed a 7.3684% dividend for the fiscal year 2077/78. This was the company's first-ever dividend proposal. The 473rd meeting of the board of directors held on Poush 01 had decided to distribute the dividend on the paid-up capital of Rs. 80.01 crores. 7% bonus shares worth slightly over Rs 5.6 crores and 0.3684% cash dividend (including tax) worth Rs 29.47 lakhs were proposed.
However, the company revised its dividend proposal. 6% bonus shares and 0.3158% cash dividend were then proposed on the paid-up capital of Rs. 80.01 crores. Thus, the bonus shares are worth Rs. 4,80,06,000 and the cash dividend is worth Rs. 25,26,631. Thus, the new dividend proposal amounts to a total of 6.3158% on the paid-up capital.
Poush 19 was the book closure date for the dividend and AGM. Thus, shareholders maintained before that day are entitled to the dividend payout and can also attend this AGM.