The meeting will endorse a proposal of distributing 86 percent stock dividend worth Rs 462.94 million to its shareholders. The shareholders required to pay the tax by themselves, given that, the company has not announced any cash dividend for tax purpose.
Presently, the company has a paid-up capital of Rs 538.2 million. After the bonus share distribution, the paid-up capital of the company will reach above Rs 1 billion.
In this regard, the company is closing its book on June 16, thus, the shareholders registered in its book till June 15 will be eligible to attend the AGM and obtain the announced dividend.
