CIT host 21st AGM, decides to give 21.85 percent bonus

Published On: September 2, 2017 08:15 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU (REP-UBLICA): The Citizen Investment Trust (CIT) conducted its 21st annual general meeting (AGM), on Friday. On the occasion, CIT has passed a proposal to distribute 21.85 percent bonus to its shareholders. The AGM has also approved 1.15 percent cash dividends for tax purpose. According to a statement released on Friday, CIT has earned a total revenue of Rs 578.8 million in FY2016/17, of which Rs 389.4 million is the net profit. Similarly, in FY2015/16, CIT earned Rs 543.6 million of which Rs 377.6 million was the net profit. Likewise, in FY2013/14, the Trust had earned Rs 317 million of which Rs 188.4 million was the net profit. On the occasion, the CIT elected its new promoters. Ashok Budhathoki from public shareholders and Kamlesh Kumar Agrawal of Nepal Life Insurance from BFIs group were elected unopposed, the statement said.

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