Six months on, Jyoti Bikas Bank AGM, dividend remain elusive
Mon, Jun 16, 2014 12:00 AM on Dividend, Bonus & Rights,
ShareSansar, June 16:
It’s been more than six months since the Board of Directors of Jyoti Bikas Bank Limited pledged 12.60 percent, including 7 percent bonus shares, to its shareholders from the net profit it posted in the last fiscal year 2069/70.
But the development bank is yet to announce the date for the Annual General Meeting —forget about distributing the dividend.
The 157th BOD meeting of the development bank had pledged the dividend back in January second week.
According to Jyoti’s company secretary Madan Mahat, the central bank has not approved the final balance sheet of the bank, citing some technical aspects of a project being funded by the bank.
“We are planning to take the central bank officials to the site of Jiri Khola Sana Hydropower project,” said Mahat, adding that the BoD is expected to meet next week to discuss the AGM issue.
The national level development bank, which was established with the aim of financing hydropower and infrastructure, has invested Rs 23 crore in Jiri Khola Sano Hydropower.
Jyoti Bikash Bank Limited has posted a net profit of Rs 7.26 crore in the last fiscal year 2069/70.
