Kathmandu. Today is the last day to secure the dividend of NRN Infrastructure and Development and Shivam Cement.
Both the companies are closing their books on November 26 for dividend and AGM. This means that existing shareholders will be eligible to receive dividends and attend meetings.
NRN Infrastructure in the last fiscal year 2081. The company has decided to distribute 42.105 percent dividend of Rs 1.28 billion out of its paid-up capital. This includes 40 percent bonus shares and 2.105 percent cash dividend.
The company has called its 13th Annual General Meeting (AGM) on December 20 to approve the dividend. The assembly will begin at 9:00 am at Amrapali Banquet in Thirbam Road, Kathmandu. After the approval of the dividend by the same meeting, the shareholders will get the dividend.
The AGM will also endorse a special proposal of issuing 100% right shares in the ratio of 1:1 of the paid-up capital to be maintained after the bonus share distribution. The AGM will endorse a special proposal to amend the Memorandum of Association and Articles of Association accordingly as the issued and paid-up capital of the company will increase after the distribution of bonus shares.
The AGM will endorse a proposal to establish a fund management company as a subsidiary company with 51 percent ownership in the company for the purpose of managing the specialized fund and delegate authority to the Board of Directors to carry out necessary works in this regard. The meeting will approve the annual report of the last fiscal year and the auditor’s report and approve the proposal regarding the appointment of the auditor and determination of his/her remuneration for the current fiscal year.
Similarly, Shivam Cement Limited has decided to hold its 10th Annual General Meeting (AGM) on December 10. The rally will begin at 10:30 am at the National Assembly Hall, Exhibition Road, Kathmandu.
The meeting held the last fiscal year 2081. The proposed dividend for 82 will be approved. The board of directors has proposed to distribute 12.5 percent dividend to its shareholders for the current paid-up capital of Rs 5.45 billion. This includes 2.5 percent bonus shares and 10 percent cash dividend.
The AGM will endorse a special proposal to amend the Memorandum of Association and Articles of Association accordingly as the issued and paid-up capital of the company will increase after the distribution of bonus shares. The meeting shall approve the appointment and nomination of the vacant directors.
The meeting will approve the annual report and the auditor’s report of the previous fiscal year. The meeting will endorse the proposal regarding the appointment of the auditor and determination of his/her salary for the current fiscal year.
