Summit Microfinance to hold its 6th AGM today; 38.95% dividend to be approved

ShareSansar, January 9:

Summit Microfinance Development Bank Limited (SMFDB) is convening its 6th annual general meeting (AGM) today. The AGM is schedule to starts at 8:30 AM at Agrasan Building, Birtamod, Jhapa.

It has already proposed 38.95 percent dividend – 26 percent bonus share and 12.95 percent cash – to its shareholders from the profit it earned in the last fiscal year 2070/71.The decision, however, is subject to the approval of Bank’s AGM.

The major agendas for the AGM are approval of financial statement of FY 2070/71 and approval of dividend declared by the BOD.

Summit Microfinance has earned net profit of Rs 1.4 crore and has paid up capital of Rs 2.8 crore.