LS Capital AGM approves dividends

KATHMANDU: Laxmi Sunrise (LS) Capital's 14th Annual General Meeting approved a cash dividend of Rs 7.72 crore. LS Capital's general meeting on Sunday approved a proposal to pay a cash dividend of Rs 7.72 crore to shareholders from the previous fiscal year's profits.

After the merger of Laxmi Capital Market and Sunrise Capital in the previous fiscal year, the company's paid-up capital climbed to Rs 488.9 million.

The meeting approved a proposal for the previous fiscal year's annual report, the balance sheet for the same period through mid-Asar, the profit and loss account, and the cash flow statement. It has also appointed an auditor for the current fiscal year and set his remuneration.

This merchant banking services provider announced that it has finished the task of issuing shares and selling management for the highest number of institutions to date. The company has stated that it is now in the process of issuing shares in 20 companies and manages a portfolio worth more than Rs 700 million.

In addition, the company manages six closed-end mutual funds and one open-end mutual fund totaling around 7 billion.