CIT concludes 29th AGM, approves 14 pc bonus share
KATHMANDU: Citizen Investment Trust (CIT) has recently concluded its 29th annual general meeting (AGM) chaired by CIT Chairman Surya Bahadur Thapa.
The AGM approved 14% bonus share and 0.7368% cash dividend based on the income sharing statement for the fiscal year 2022/23. Additionally, the annual report for the fiscal year 2022/23, including the balance sheet, profit and loss account, and cash flow statement (covering the period from June 16 to July 16, 2023), was discussed and passed.
CIT Chairman Thapa emphasised the Trust's significant role in the financial and capital markets. He highlighted the importance of human resource development and mentioned the formation of a dedicated team for bank reconciliation work. Thapa expressed commitment to addressing challenges and leveraging existing opportunities to channel investments into productive sectors.
CIT Executive Director Parbat Kumar Karki provided an overview of CIT's current situation. He acknowledged issues and suggestions raised by shareholders and emphasised gradual IT-friendly improvements in CIT's transactions and future expansion.
The decision to grant 14% bonus share was influenced by a 55% increase in shareholders' shares over the past two years. Karki assured that CIT would maintain this level of bonus share in the future.
According to details presented in the AGM, the net fund balance of CIT reached Rs 248.01 billion till July 15 of the fiscal year 2023/24. During that period, the CIT has invested Rs 236.8 billion.
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