STC calls 57th AGM on April 5th to approve dividend

KATHMANDU:Salt Trading Corporation Limited will have its 57th Annual General Meeting on April 5th. The company's board of directors met on March 13 and resolved to convene the general meeting on April 5.

The AGM will approve a 15.79% dividend on FY 23/24 profits for shareholders. The board of directors met on January 25 and decided to pay the dividend from FY 2079/80 profits. The proposal calls for 15% bonus shares and a cash dividend of 0.79%. The cash dividend has been recommended to cover the tax on bonus shares.

Similarly, the assembly will discuss and pass the previous fiscal year's annual report, as well as a proposal for the appointment and remuneration of the auditor for the current fiscal year (FY).

For the general meeting, the company has announced that the book will be closed from March 9th to April 5th. Based on the book closure date of March 21st, permanent shareholders will be able to attend the general meeting and receive dividends.