Saptakoshi Development Bank is conducting its 6th AGM on January 12. The board of directors meeting of the bank held on December 14 decided to call the AGM in Udhyog Sangathan, Morang, Biratnagar at 10:30 AM.
The meeting is supposed to endorse a proposal of distributing 3 percent stock dividend worth Rs152.55 million and 5.036 percent cash dividend worth Rs 256.1 million including tax to its shareholders. Moreover, the bank will delegate authority to BOD to identify potential merger or acquisition partner and carry out any required procedure as per regulatory bodies.
Presently, the bank has a paid-up capital of Rs 508.51 million. After the bonus share distribution, the paid-up capital will reach Rs 523.76 million.
