Standard Chartered announces 31st AGM on 26th Poush; to ratify 100% stock dividend.

Standard Chartered Bank has announced to have its 31st annual general meet on the 26th poush 2074 (10th january, 2017) . The meeting will take place at 1 pm on the stated date at Army Officers Club, Bhadrakali, Kathmandu.

Agenda for the meeting:

(i) Financial Highlights for the fiscal year 2073/74.

(ii) Election of BoD.

(iii) To endorse 100% bonus shares and cash for tax purpose. 

(iv) To increase the authorised capital to Rs 9 arba.

(v) Amendment in MoA and AoA of the company.

The company is yet to announce is book closure date for the purpose of AGM. Only those shareholders having the shares at the time of bookclosure will be eligible for the dividend. 

362nd board meeting held on 8th december had proposed 100% stock dividend for the shareholders. The decision is however subjected to approval from AGM and Nepal Rastra Bank. 

Standard Chartered  currently has a paid up capital of Rs 4.00 arba. The paid up capital will reach Rs 8.01 arba after the distribution of proposed bonus share. 

The company had floated a FPO worth Rs 3.30 arba last year. 

Standard Chartered had earned a Net profit of Rs 48.25 crores as of 1st quater of this FY. The bank has a low NPL and CCD ratio of 0.18% and 64.90% resp. The company was last traded at Rs 2105 .