Kathmandu. Today is the last day to secure the dividend of self-employed and self-reliant microfinance institutions. Both these organizations have decided to close the book on April 15 for dividend and annual general meeting purposes. This means that only the shareholders who have been retained till April 15 will be eligible to receive dividends and participate in the meeting.
Swarojgar Laghubitta Financial Institution has decided to organize its 16th on May 16. The meeting will begin at 11:30 am at The Nepal Academy, Kamaladi, Kathmandu. Last fiscal year 2080. It will approve a dividend of 14.21 percent of the total paid-up capital proposed for 81. This includes 13.50 per cent bonus shares and 0.71 per cent cash dividend for tax purposes.
Since the issued and paid-up capital will increase after the distribution of bonus shares, the assembly will pass a special proposal to amend the management letter and regulations accordingly. The Meeting will approve a proposal to authorise the Board of Directors to proceed with the entire process if it deems it appropriate to go for merger with other suitable microfinance institutions.
The Assembly shall pass a special resolution giving full authority to the Board of Directors to carry out any changes or additions by the regulatory bodies while amending the management letter and regulations of the organization.
Swabhimaan Laghubitta Financial Institution will approve 5.2632 percent dividend from the profit of the last fiscal year. It has proposed to distribute 5 percent bonus share and 0.2532 percent cash dividend for tax purposes. The company will approve the proposal.
The company has decided to hold its eighth annual general meeting on May 15 to pass the dividend. The meeting will begin at 11:00 am at the central office of the association at Tilottama in Rupandehi.
The assembly will pass a special proposal to amend the management letter and regulations accordingly as the paid-up capital of the organization will increase after the distribution of bonus shares. The Assembly will also approve another special proposal to give to the Board of Directors all the authority to do so accordingly, if necessary instructions are given by the regulatory bodies while amending the Memorandum of Management and Regulations.
The assembly will approve the annual and auditor’s report of the last fiscal year as well as the proposal regarding the appointment of auditors for the current fiscal year and determination of their remuneration. The assembly will also pass a proposal to nominate for the vacant post of director.
