Reliance Lotus to Distribute Dividends

June 5: AGM of Reliance Lotus Finance has endorsed distribution of 20 percent bonus share and 1.05 percent cash dividends to its shareholders. The AGM held on Friday, June 3 has approved the proposal to distribute right shares in the ratio 10:6 to raise the paid-up capital to Rs 800 million. Similarly, the finance has also decided a merger if appropriate institution is found.

Likewise, the company has also approved to change its share structure. As per the company, new share structure will be in the ratio 51:49 for promoter and general share. The AGM has also changed the name of the company as Reliance Finance Limited.

Meanwhile, the company has Rs 2.45 billion in deposits while their loan has totaled Rs 1.96 billion. The finance company is being led by Chairman Dharmendrakaji Shrestha and CEO Anil Shrestha.