Machhapuchchhre Bank calls AGM for Ashoj 28, to pass 6 percent dividend proposal
Machhapuchchhre Bank has called its annual general meeting on Ashoj 28 in Pokhara. The meeting will pass a 6 percent dividend (3 percent bonus and 3 percent cash) and an 8.25 percent cash dividend for preference shareholders. Book closure is set for Ashoj 12.
Machhapuchchhre Bank has called its annual general meeting for Ashoj 28. The bank's board of directors, in a meeting held on Ashoj 2, decided to convene the meeting.
The meeting will begin at 11 AM at Hotel Pokhara Grande in Pardi, Pokhara. The meeting will pass a total dividend of 6 percent on the current paid-up capital from the distributable profit proposed for the last fiscal year 2082/83.
- 3 percent bonus shares: Rs 36 crore 25 lakh 86 thousand 347
- 3 percent cash dividend (including tax): Rs 36 crore 25 lakh 86 thousand 347
Similarly, the meeting will also approve a proposal to distribute an 8.25 percent cash dividend (including tax) amounting to Rs 7 crore 45 lakh 89 thousand 41 to preference shareholders for the last fiscal year.
The meeting will pass a special proposal authorizing the board of directors to amend the memorandum and articles of association as per the suggestions or directives received from the regulatory body.
The meeting will elect 3 directors representing the promoter group and 1 director representing the general public group to the board of directors. Likewise, the meeting will approve the annual and auditor's report for the last fiscal year, as well as a proposal regarding the appointment of the 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 Ashoj 12. This means only shareholders holding shares before Ashoj 12 will be eligible to receive the bank's dividend and participate in the meeting.