Reliance Finance AGM ended; proposed 10.53 percent dividend

Kathmandu, April 7

Reliance Finance Limited called for its 11th annual general meeting on Baisakh 22. The company has called a meeting at Lainchour Banquet, Kathmandu at 11 am. Considering the risk of Corona epidemic, the meeting will be held through virtual means. The meeting of the board of directors of the company held on Chaitra 24 has decided it.

The meeting will pass a resolution to distribute 0.53 percent cash dividend and 10 percent bonus share tax to the shareholders from the profits of the Fiscal Year 2076/77. In other proposals of the meeting, to approve the proposal to keep the different points after the bonus distribution in the future so as to adjust it, to increase the company’s issued and paid-up capital and to amend the company’s management letter and rules accordingly, if necessary. The meeting will also decide to give to the committee.

Currently, the company’s paid-up capital is Rs. 83 crore 24 lakh 16 thousand. The company has decided to distribute dividend on the basis of the same capital. This year, the company is set to distribute more dividends than last year. Last year, the company had distributed only 6.58 percent cash dividend.

The company is preparing to close the book on Baisakh 10 (one day) for the purpose of general meeting and dividend. On the basis of book close, only the existing shareholders till Baisakh 9 will be eligible to participate in the meeting and receive dividend.