NIC Asia Capital declares 52.53% cash dividend at 8th AGM

KATHMANDU: NIC Asia Capital Limited successfully conducted its 8th Annual General Meeting (AGM) today, on Tuesday, Aug 27, 2024 (Bhadra 11, 2081 BS), at the Capital’s registered office in Thapathali, Kathmandu.

During the meeting, the shareholders approved the Board of Directors’ report for the fiscal year 2080/081 BS.

Additionally, the AGM passed the financial statements, including the balance sheet, profit and loss account, and cash flow statement, for the year ending in Ashad 2081 BS, following a thorough discussion.

The shareholders also approved the Board of Directors’ proposal to distribute a cash dividend of 52.53% (inclusive of tax) of the paid-up capital.

In the meeting, the Chair of the Board, Santosh Kumar Rathi, highlighted that the Capital, with a paid-up capital of NPR 200 million, had generated an income exceeding NPR 300 million during the review period, achieving a net profit of over NPR 121.6 million.

On the business front, the Chairman informed the shareholders that the Capital had successfully opened 739,868 Demat accounts by the end of Ashad 2081 BS.

Under its mutual fund services, the Capital has been managing over NPR 5.52 billion through six schemes—five closed-ended and one open-ended scheme.

The Capital has also managed over NPR 2.11 billion for 704 clients under its investment management services.

Additionally, the Capital is providing share registrar services to 24 companies and has completed the issuance process for 17 companies under the ‘IDEA to IPO’ service.

The Chair further informed that, including the proposed dividend from the 8th AGM, the Capital has distributed a total return of 240% to its shareholders to date.