Standard Chartered Bank (SCB) calls AGM on Poush 24; When's the book closure for 11.84% Dividend?

Standard Chartered Bank Nepal Limited (SCB) has called its 34th AGM on Poush 24, i.e. January 08. The 405th meeting of the board of directors held on Mangsir 30 has decided to conduct the AGM virtually that day. The AGM will commence at 12:15 PM.

Among other proposals, the AGM will endorse the 11.84% dividend for the fiscal year 2076/77. The bank has proposed a 7% bonus shares and a 4.84% cash dividend for its shareholders from the profit of FY 2076/77.

The book closure is announced on Poush 09. Thus, investors maintained before that day are entitled to the dividend payout and can also attend the AGM. Books will be closed from Poush 09 to Poush 24.

As of writing, SCB's LTP stands at Rs. 661. Standard Chartered Bank Nepal Limited (SCB) has published its first-quarter report for the FY 2077/2078 with a decrease in Net Profit by 37.69%. The bank’s net profit declined to Rs. 40.13 crores in this quarter from Rs. 64.41 crores of FY 2076/2077.

Nevertheless, ICRA Nepal has reaffirmed the issuer rating of [ICRANP-IR] AAA (pronounced ICRA NP issuer rating triple-A) to Standard Chartered Bank Nepal Limited (SCBNL). The rating is considered to have the highest degree of safety regarding the timely servicing of financial obligations. Such issuers carry the lowest credit risk.

AGM Notice