Suryodaya Laghubitta to issue FPO; Also to distribute 4 years dividend

Kathmandu, March 24

Suryodaya Laghubitta Bittiya Sanstha Ltd is preparing to issue FPO. The company has called a general meeting on Chaitra 31 to pass the resolution.

The company has stated that it has to issue FPO again to the public in order to increase the share of the founding shareholders to 78.24 percent and the shareholders of the general shareholders to 21.75 percent by changing the capital structure of the company.

The company will also distribute 15.34 percent bonus shares and 0.81 percent cash dividend to the shareholders for tax purposes from last year’s profit.

The company has called a general meeting on Chaitra 31 to pass the dividend. For the purpose of general meeting and for the purpose of dividend distribution, the shareholder book of the company will be closed from Chaitra 19 to Chaitra 31.

The existing shareholders till Chaitra 18 will get dividend. The company has reduced its dividend this year compared to last year.

The company had distributed 44.48 percent bonus shares last year from the previous year’s profit. The company reported a net profit of Rs. 4 crore 60 lakh has earned.

The paid-up capital of the company is Rs. 21 crore 50 lakh. The company contributed Rs. 16 crore 55 lakh has been accumulated. After the distribution of 15.34 percent bonus shares, the company’s capital will increase and reach more than 24 crore 80 lakh.