Siddhartha Bank Unveils Book Closure Date for its 4% Cash Dividend; Calls AGM on Poush 28

Siddhartha Bank Limited (SBL) has called its 23rd AGM on 28th Poush, 2081. The meeting will be held at the Army Officers Club, Bhadrakali, Kathmandu, starting at 10:30 a.m. that day.

Among the other agendas, the AGM will endorse a 4% cash dividend for the fiscal year 2080/81. The bank's 439th meeting of the board held on 21st Mangsir, 2081, has proposed the cash dividend from the paid-up capital of Rs. 14.08 Arba. A 4% cash dividend (including tax) worth Rs 56.35 crores has been proposed.

Furthermore, there is an agenda to endorse the auditor's report with PL statements, financial reports, and cash flow reports for FY 2079/80 and appoint an auditor for the fiscal year 2081/82. There's also an agenda to elect 3 directors from the promoter shareholding group and 2 directors from the public shareholding group.

The Board of Directors has proposed the issuance of "SBL 8.25% Perpetual Non-Cumulative Preference Shares" worth Rs. 3.5 billion at Rs. 100 per share, subject to approval from the relevant regulatory body. To accommodate the issuance of these Perpetual Non-Cumulative Preference Shares, the bank's authorized capital will be increased from Rs. 16 billion to Rs. 20 billion. Following the issuance, the bank’s retained issued capital will rise from Rs. 14.09 billion to Rs. 17.59 billion, while the paid-up capital will also increase from Rs. 14.09 billion to Rs. 17.59 billion. To facilitate this process, necessary amendments and modifications will be made to the Memorandum and Articles of Association.

Poush 14 is the book closure date. Thus, shareholders maintained that day are entitled to the dividend payout and can also attend the AGM.

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