Rural Microfinance 18th AGM today; to approve 20% dividend

Rural Microfinance Development Center Limited (RMDC) is going to hold its 18^th Annual General Meeting (AGM) today (Poush 27, 2073). The AGM will be held at Trade Tower, Thapathali, Kathmandu. Main agendas of the AGM are:

• To endorse 10% bonus shares and 10 cash dividend including for tax purpose from the net profit it earned from the fiscal year 2072/73. The fractional bonus share will be rounded off to the nearest whole number.
• After distribution of bonus share to increase issued and paid up capital and amend the article of association accordingly.
• To amend Article of Association and Memorandum of Understanding as per directed by registrar officer or the Nepal Rastra Bank.

Other main agendas of the AGM include financial highlights of 2072/73 and appointment of auditor. Only those shareholders owning shares till Poush 11 were entitled to the dividend of the company. The register of their shareholders was close from Poush 12, 2072 till Poush 27, 2072 for the purpose of its upcoming AGM. RMDC had earned net profit of Rs. 3.98 crore in the first quarter of the fiscal year 2073/74. Its paid up capital remains at Rs 62.92 crore. After issuance of 10 percent bonus share, the paid up capital will reach Rs 69.21 crore.