Kathmandu. So far, 11 different MFIs have convened annual general meetings. The companies have set the date for the annual general meeting of the last fiscal year 2077/78.
Out of which 4 have already completed and the remaining 7 have fixed the date of General Assembly. Among the organizations that have held meetings are Gurans, Abhiyan, Sadhana and Diprox Microfinance.
Similarly, Asha, Civil, Self-Employment, NIC Asia, Lakshmi, RSDC and First Microfinance have convened their annual general meetings.
Out of which, three microfinance institutions are preparing to hold a meeting within this month. Asha Microfinance has immediately called on November 10. The organization has already closed the book on the 12th of Kartik for the purpose of attending the meeting. The meeting of the organization is passing the proposal to distribute 26.3157 percent dividend to the shareholders. As soon as the meeting passes, the existing shareholders will get the proposed dividend of the organization till November 25.
Similarly, self-employed microfinance has also called a meeting on November 10. The meeting is approving the proposal of the board of directors to distribute 25 percent dividend to the shareholders. The organization has already closed the book on November 29 to attend the meeting.
Similarly, Civil has also called a meeting on the 28th of Kartik. The organization that closed the book on November 29 is proposing 20 percent dividend in the meeting.
NIC Asia, Lakshmi, RSDC and First Microfinance are scheduled to meet in November. The first of which is called NIC Asia Microfinance. The organization that closed the book on November 8 is going to hold a general meeting on November 19. The meeting is passing a resolution to distribute 5.415 percent cash dividend to the shareholders.
At the same time, investors who buy shares of these four institutions will not get the dividend of the last fiscal year.
Three microfinance books are yet to be closed
The book closing of 3 microfinance institutions (Lakshmi, RSDC and First Microfinance) is yet to close. Of which, Laxmi and RSDC are closing the book on November 12, while First Microfinance has decided to close the book on November 20.
In addition, those who buy shares of these three microfinance institutions will get the proposed dividend of the last fiscal year. However, for the said dividend, the interested person has to buy the shares of the concerned institution before the book closes.
Laxmi and RSDC microfinance, which are going to close the book on the same day, are also going to hold the meeting on the same day. They have set the date for holding their annual general meeting on November 25.
The meeting of Laxmi Microfinance is passing a special resolution to distribute a total of 27.37 percent dividend to the shareholders and the meeting of RSDC Microfinance is distributing a total of 10.5263 percent dividend.
Similarly, First Microfinance has also called a meeting on November 30. The organization is taking the proposal of the board of directors to distribute 10.53 percent dividend to the shareholders to the meeting.