C5#
The meeting will endorse a proposal of distributing 3 percent stock and 3 percent cash dividend including tax to its shareholders.
Similalry, the AGM will distribute a proportionate cash dividend (including tax) at the rate of 8.25 percent of the preference shares to the shareholders and authorize the Board of Directors to amend the Memorandum of Association and Articles of Association of the bank. The meeting will also endorse the proposal informing about the appointment of Arjun Kumar Gautam as an independent director for a term of 4 years. Moreover, the meeting will delegate authority to BOD to forward merger/acquisition and amend article and memorandum of association and appoint an auditor.
In this regard, the company will close its book on September 28, thus, the shareholders registered in its book till September 27 will be eligible to attend the AGM and obtain the announced dividend.
