Nepal Infrastructure Bank (NIFRA) Calls AGM to Endorse Dividend and Elect Board Members
Wed, Nov 17, 2021 10:54 AM on Latest, Dividend, Bonus & Rights, AGM/Special AGM, Book Closure,
Nepal Infrastructure Bank Limited (NIFRA) has called its 3rd AGM on 29th Mangsir, 2078. The meeting will be held in Anupam Foodland and Banquet, Battisputali, Kathmandu, starting at 9 am that day.
Among other agendas, the AGM will endorse an 8% bonus share worth Rs. 1.60 Arba and cash dividend for tax purposes worth slightly over Rs. 8.42 crores for the fiscal year 2077/78.
The company had previously proposed an 8.5% cash dividend for the fiscal year 2077/78. The meeting of the board of directors held on Ashwin 04 had decided to distribute the cash dividend from the paid-up capital of Rs. 20 Arba. However, Nepal Rastra Bank instructed the company to revise its dividend proposal, since it did not comply with the central bank's directive regarding dividend distribution.
The AGM will also elect 2 board members from the public shareholders.
Mangsir 09 is the book closure date. Thus, shareholders maintained before that day are entitled to the dividend payout and can also attend this AGM. As of writing, NIFRA has an LTP of Rs. 358.
