12.6% dividend of Jyoti Bikas Bank, AGM on July 16, 2014

Six long months after its Board of Directors decided to pledged 12.60 percent, including 7 percent bonus shares, to its shareholders from the net profit it posted in the last fiscal year 2069/70, Jyoti Bikas Bank Limited has finally announced its Annual General Meeting.

Issuing a notice today, the development bank based in Kathmandu has also announced the book closure from July 2 for its sixth AGM to be held at the Tribhuwan Army Club.

The 157th BOD meeting of the development bank had pledged the dividend back in January second week.

According to Jyoti’s company secretary Madan Mahat, the central bank took a long time to approve the final balance sheet of the bank, citing some technical aspects of a project being funded by the bank.

Last week they had taken some central bank officials to the site of Jiri Khola Sana Hydropower project to show that the problem has been resolved.

The national level development bank, which was established with the aim of financing hydropower and infrastructure, has invested Rs 23 crore in Jiri Khola Sano Hydropower.

Jyoti Bikash Bank had posted a net profit of Rs 7.26 crore in the last fiscal year 2069/70.-SSN