Progressive Finance (PROFL) Postpones AGM For These Reasons

Progressive Finance Limited (PROFL) has postponed its 25th AGM until further notice.

The company had previously called its 25th AGM on 30th Poush, 2078. Because of the unfavorable condition created by Covid-19, the AGM has been postponed. Furthermore, the company has also seen a technical error in its financial reports due to changes in the tax provision.

Among other agendas, the AGM was supposed to endorse a 7.3684% dividend for the fiscal year 2077/78. This is the company's first-ever dividend. The 473rd meeting of the board of directors held on Poush 01 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 have been proposed.

Poush 19 was the book closure date for the dividend and AGM. Thus, shareholders maintained before that day are entitled to the dividend payout.

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