RMDC Laghubitta declares 22nd AGM on 22nd Mangsir; 20% dividend to be endorsed

RMDC Laghubitta Bittiya Sanstha Limited has announced its 22nd AGM on 22nd Mangsir, 2077, i.e. December 7.

The 348th meeting of the board of directors held on Kartik 24 has decided to organize the AGM virtually. The AGM will commence at 11 am that day.

Among other proposals, the AGM will present the report of the BOD for the fiscal year 2076/77 and endorse the profit and loss statement, cash flow, etc. Furthermore, the auditor for the fiscal year 2077/78 will be selected and remuneration will be decided.

Also, this AGM will endorse the 20% dividend for the fiscal year 2076/77.

The company has proposed a 15% bonus shares and a 5% cash dividend to its shareholders. Considering that the microfinance company has existing paid-up capital of Rs. 89.93 crores, the bonus shares amount to Rs. 13.49 crores and the cash dividend is worth Rs. 4.49 crores.

Thus, the company is distributing a total of 17.98 crores dividend for the fiscal year 2076/77. Meanwhile, it had distributed a 25% dividend (12.5% bonus, 12.5% cash) in the fiscal year 2075/76. Nepal Rastra Bank has already approved the 20% dividend via a formal letter on Kartik 13.

The book closure for dividend and the AGM is on Mangsir 08. Books will be closed from Mangsir 08 to Mangsir 22. Thus, investors maintained before that day are entitled to the dividend payout and can also attend the AGM.

AGM notice