At 30th AGM, CIT approves 7 pc bonus share, 6 pc cash dividend
KATHMANDU: The 30th annual general meeting (AGM) of Citizen Investment Trust (CIT), chaired by CIT Chairman Surya Bahadur Thapa, concluded successfully. The AGM approved the proposed 7% bonus share and 6% cash dividend (including tax) for the fiscal year 2023/24.
The meeting also discussed and passed the board of directors' report for the fiscal year 2023/24. Additionally, balance sheet, profit and loss account, and cash flow statement for mid-June to mid-July, along with the auditor's report, were reviewed and approved. Chairman Thapa announced that CIT's programmes will be further promoted, with a focus on including self-employed individuals and those in foreign employment.
Chairman Thapa highlighted CIT's prominent role in the capital market, stating that this work will be further intensified in the coming days. Thapa emphasised that human resource development will be prioritised through Organisation and Management (O&M). He noted that CIT has been effectively enhancing investment management by leveraging existing potential and opportunities, while addressing challenges and problems.
Both Chairman Thapa and CIT's executive director responded to shareholders' queries at the AGM. During the programme, CIT's executive director Parbat Kumar Karki provided a detailed account of CIT's status, and addressed the queries and suggestions raised by the shareholders. Karki mentioned that the CIT has been working towards making information technology more efficient and was conducting a feasibility study on the use of artificial intelligence (AI). Karki noted that CIT had managed to deliver relatively good dividends to its shareholders despite the current economic and financial slowdown.
According to the details presented at the AGM, CIT's net fund balance reached Rs 261 billion as of October 16 for the fiscal year 2023/24, with Rs 250 billion invested during that period.
