Shine Resunga Development Bank Limited (SHINE) has announced its 15th Annual General Meeting (AGM) scheduled for the 23rd of Mangsir, 2080. The venue for the meeting is set at Dreamland Gold Resort & Hotel Pvt. Ltd. in Manigram, Rupandehi, commencing at 11 a.m. on the specified day.
One of the key items on the AGM agenda is the approval of an 11.05% dividend for the fiscal year 2079/80. The proposal for this dividend was put forth during the bank’s 280th board meeting held on the 23rd of Ashwin 2080. The proposed dividend is calculated based on the bank’s paid-up capital, which currently stands at Rs. 4.28 Arba. The dividend comprises 10.5% bonus shares valued at Rs. 44.98 crores and 0.55% cash dividend (inclusive of tax) amounting to Rs. 2.36 crores.
Additionally, the AGM will address various other matters, including the endorsement of the auditor’s report containing Profit and Loss statements, financial reports, and cash flow reports for the fiscal year 2079/80. The appointment of an auditor for the upcoming fiscal year 2080/81 is also on the agenda. Furthermore, there will be a discussion about identifying suitable banks and financial institutions for potential merger and acquisition opportunities with Shine Resunga Development Bank.
Shareholders are reminded that the book closure date is from the 11th to the 23rd of Mangsir, 2080. Only shareholders recorded on this day are eligible for the dividend payout and are invited to attend the AGM.