The meeting will endorse a proposal of distributing 1.5 percent stock and 8 percent cash dividend to its shareholders. Moreover, the company will delegate authority to BOD to forward merger/acquisition process with a suitable partner.
Presently, the company has a paid-up capital of Rs 2.50 billion. After the bonus share distribution, the paid-up capital of the company will reach above Rs 2.54 billion.
As per the bank, the shareholders who are registered in its book before August 3 2017 (joint transaction date after the merger of former Kamana Bikas and Sewa Bikas Bank) do not require to pay tax in the given dividend.
In this regard, the company is closing its book on June 14, thus, the shareholders registered in its book till June 13 will be eligible to attend the AGM and obtain the announced dividend.
