Siddharth Bank Begins Distribution of Cash Dividend

Siddharth Bank Limited has started distributing the cash dividend approved at its 23rd Annual General Meeting (AGM) to the shareholders' accounts. During the AGM held on 28th of Poush, the bank passed a proposal to distribute a 4% cash dividend (inclusive of tax) on the paid-up capital to its shareholders. The dividend is being sent to the accounts of shareholders who were registered by the book closure date, 13th of Poush.

The bank has started the distribution process from 28th of Poush. Additionally, it has requested shareholders who have not yet dematerialized their shares and updated their beneficiary accounts to do so in order to receive the cash dividend. Only those shareholders who have updated their bank accounts with the beneficiary account will receive the dividend.

Moreover, shareholders who have pledged their shares as collateral and taken loans, as of 13th Poush, will only receive the dividend in their bank accounts after obtaining the release letter from the concerned bank or financial institution.

This move by Siddharth Bank is expected to provide shareholders with timely access to their cash dividends and further enhance the bank's service offerings.