Kamana Sewa Bikas Bank Limited (KSBBL) has scheduled its 18th Annual General Meeting (AGM) for Ashwin 30, 2081. The meeting will take place at Lisara Receptions in Naxal, Kathmandu, starting at 10:30 a.m.
One of the key agendas for the AGM is the endorsement of a 12% dividend for the fiscal year 2080/81. As decided by the bank’s board of directors on Bhadra 28, 2081, shareholders will receive 7% in bonus shares and a 5% cash dividend (including tax) from the bank’s profits up to Q4 of FY 2080/81.
Additionally, the AGM will review and approve the auditor’s report, including profit and loss statements, financial reports, and cash flow for FY 2080/81. The bank will also appoint an auditor for the fiscal year 2081/82 and confirm the appointment of an independent director from the public shareholding group.
A significant agenda for the meeting includes the issuance of Perpetual Non-Cumulative Preference Shares valued at Rs. 35 crore, with a nominal value of Rs. 100 per share. These shares, carrying an annual dividend rate of 9%, will only distribute profits in profitable years. The issuance will proceed after receiving regulatory approval, aimed at boosting the bank’s primary capital.
The book closure date has been set for Ashwin 15. Shareholders who maintain their shares on this date are entitled to the dividend and can attend the AGM.
