Citizens Bank International Limited (CZBIL) has scheduled its 18th Annual General Meeting (AGM) for 12th Kartik, 2081. The meeting will be held at Amritbhog, Kalikasthan, Kathmandu, and will commence at 9:00 AM.
One of the key highlights of the AGM agenda is the endorsement of a 4.21% dividend for the fiscal year 2080/81. The Board of Directors (BODs), in its 463rd meeting on Ashwin 7, proposed the distribution of a 0.21% cash dividend worth Rs. 2.98 Crores and a 4% bonus share worth Rs. 56.80 Crores. The company’s paid-up capital currently stands at Rs. 14.20 Arba. Notably, the cash dividend also includes the tax amount for the bonus shares.
The AGM will also seek approval for the auditor’s report, profit and loss (PL) statements, financial reports, and cash flow statements for the fiscal year 2080/81, and the appointment of an auditor for the upcoming fiscal year 2081/82.
A key agenda item is the proposal to amend the bank’s charter. These changes aim to enhance the bank’s issued and paid-up capital, define the types of shares, and set restrictions on share purchases and transfers. Additionally, the proposed amendments address regulatory changes, establish quorum requirements, define the minimum number of shares required to become a director, and clarify shareholder rights and voting privileges. The provisions also include the introduction of preference shares and a recommendation to increase meeting allowances for directors, subject to approval by Nepal Rastra Bank.
The book closure date for the AGM is Ashwin 29, meaning shareholders who hold shares before this date are entitled to receive the dividend and attend the AGM
