Machhapuchchhre Bank calls 28th AGM on Ashwin 28, to endorse 6% dividend and other agendas
Machhapuchchhre Bank has convened its 28th Annual General Meeting on Ashwin 28 in Pokhara. The meeting will endorse a total 6% dividend (3% bonus and 3% cash) for the last fiscal year 2082/83. It will also approve an 8.25% cash dividend to preference shareholders, elect directors, and appoint an auditor, among other agendas.
Kathmandu. Machhapuchchhre Bank has convened its 28th Annual General Meeting (AGM). The bank's board of directors, in a meeting held on Friday, decided to hold the AGM on Ashwin 28. The meeting will begin at 11 AM at Hotel Pokhara Grande, Pardi, Pokhara.
The AGM will endorse a total 6% dividend from the distributable profit proposed for the last fiscal year 2082/83 on the current paid-up capital. This includes a 3% bonus share worth Rs 362,586,347 and a 3% cash dividend (including tax) worth Rs 362,586,347.
Similarly, the meeting will also approve a proposal to distribute an 8.25% cash dividend (including tax) amounting to Rs 74,589,041 to preference shareholders for the last fiscal year.
Other key agendas of the meeting are as follows:
- To pass a special resolution authorizing the board of directors to amend the Memorandum and Articles of Association as per the suggestions or directives received from the regulatory body.
- To elect 3 directors representing the promoter group and 1 director representing the public group to the board of directors.
- To approve the annual and auditor's reports for the last fiscal year.
- To approve the proposal for the appointment of an auditor and determination of their remuneration for the current fiscal year 2083/84.
For the purpose of dividend and the meeting, the bank has decided to close the books on Ashwin 12. This means that only shareholders on record before Ashwin 12 will be eligible to receive the bank's dividend and participate in the meeting.