Kathmandu: Sanima Bank Limited has started distributing a 10 percent cash dividend, inclusive of applicable taxes, to its shareholders for the fiscal year 2082/83.
The bank initiated the direct credit of the dividend following the approval of the proposal by its 22nd Annual General Meeting (AGM) held on Ashoj 12, 2083.
10% Cash Dividend Approved
Sanima Bank will distribute a 10 percent cash dividend, including applicable taxes, based on its total paid-up capital for fiscal year 2082/83.
Similarly, holders of the bank’s 8.25% Sanima Non-Redeemable Non-Cumulative Preference Shares will receive an 8.25 percent cash dividend, including taxes.
The dividend amount will be directly credited to the bank accounts linked to shareholders’ DEMAT accounts starting from the date of the AGM.
Any bank charges, service fees, or other applicable costs incurred during the dividend transfer process will have to be borne by the respective shareholders.
Shareholders With Updated Bank Accounts Must Take Action
Sanima Bank has asked shareholders whose bank account numbers were changed following the merger or acquisition of banks and financial institutions to immediately update their current bank account details in their respective DEMAT accounts.
If dividend payments are returned because of outdated, incorrect, or mismatched bank account details, the amount will be kept on hold.
The returned dividend will be reissued only after the shareholder updates the correct account information and the details are duly verified.
Requirements for Pledged Shares
The bank has also specified additional requirements for shareholders who have pledged their shares as security for loan facilities, based on the book closure date of Ashoj 1, 2083.
Shareholders whose shares remained pledged and whose loans were active up to Bhadra 31, 2083 must submit a No Objection Certificate (NOC) issued by the concerned pledgee bank or financial institution.
The NOC must clearly mention the exact number of shares pledged by the shareholder.
Meanwhile, shareholders who repaid their loans after the specified cutoff date are required to submit an original release request letter directly to Sanima Capital Limited, the issue manager, for processing of their dividend payment.
Sanima Bank has stated that dividend payments will be processed after the required account details, verification, and documents are completed in accordance with the prescribed procedures.
