RBS plans to give dividend

KATHMANDU, SEP 21: 

Rastriya Beema Sansthan (RBS) has announced that it will hold its annual general meeting (AGM) on October 10, and also provide dividends of three fiscal years. 

The state-owned life and non-life insurer has announced its plan to distribute 39 per cent bonus shares for fiscal year 2003-04 and 2004-05, and 15 per cent for 2005-06. The AGM will need to approve the distribution. 

The company will conduct its AGM after getting its financials audited this year. It had not audited its balance sheets since fiscal year 2003-04, due to instable management and bad corporate governance. It has not conducted an AGM for the last nine years. During its 45th anniversary, administrator Omkar Nidhi Tiwari had announced it will audit its balance sheets and hold AGM.

Source: THT