Kathmandu. Citizens Bank International Limited is going to give 620 million more bonus and 3.80 percent bonus shares to the shareholders. The 20th annual general meeting of the bank unanimously passed the proposal to distribute more than 62 million 298 thousand 544 rupees to the shareholders.
The meeting held today under the chairmanship of the Chairman of the Board of Directors Prabal Jung Pandey approved the proposal to distribute 3.80 percent bonus shares and 0.20 percent cash dividend of the paid-up capital.
From the distributable profit of the financial year 2082/83, the bank will distribute bonus shares worth Rs. Similarly, the proposal to distribute cash dividend of 30 million 14 thousand 14 thousand 927 rupees 23 paise for tax purposes has also been passed by the assembly. According to this, the bank will distribute a total dividend of 62 crore 2 lakh 98 thousand 544 rupees 57 paise.
The bank has been continuously distributing dividends since the financial year 2065/66. The average dividend of the bank for the past 20 years is 10.08 percent.
In addition to discussing and passing the annual report of the board of directors for the financial year 2082/83, the meeting also approved the consolidated financial statements prepared in accordance with the Nepal Financial Reporting Standards (NFRS) including the balance sheet, profit and loss account, cash flow statement for the end of June 2083 along with the auditor’s report.
In the meeting, Chairman Pandey expressed his commitment to operate the activities of the bank according to the suggestions received from the shareholders and expressed his belief that the bank will achieve more progress in the coming days. He mentioned that the bank has always given priority to keeping the level of corporate governance and compliance high and said that it will be further strengthened in the future.
Citizens Bank has been providing modern banking services to more than 2078 thousand customers through 200 branches, 167 ATMs, 3 extended counters and 42 branchless banking units in 61 districts across the country.