Nabil Bank's 15.80% Dividend: Shares Must Be Bought by Ashwin 13
Nabil Bank has set Ashwin 14 as the book closure date for its dividend and annual general meeting. Only shareholders on record by Ashwin 13 will be eligible for the 15.80% dividend and to participate in the AGM. The bank will hold its 42nd AGM on Ashwin 22.
Kathmandu — Nabil Bank has decided to close its books on Ashwin 14 for dividend and annual general meeting purposes. This means only shareholders on record by Ashwin 13 will be eligible to receive the bank's dividend and participate in the AGM.
The bank will hold its 42nd Annual General Meeting on Ashwin 22 at the Army Officers Club in Bhadrakali, Kathmandu, starting at 9:30 AM.
The meeting will approve the proposed total dividend of 15.80 percent on the current paid-up capital for the last fiscal year 2082/83, which includes:
- 5 percent bonus shares
- 10.80 percent cash dividend (including tax)
The meeting will also pass a proposal to distribute 8 percent cash dividend (including tax) on the 8 percent non-redeemable cumulative preference shares of the paid-up capital.
The meeting will pass a special proposal to increase the bank's current authorized capital to NPR 34 billion. As the authorized capital, issued capital, and paid-up capital need to be increased, the meeting will also approve a proposal to amend the memorandum and articles of association accordingly. If regulatory bodies direct any changes or amendments to the memorandum and articles of association, a special proposal will be passed authorizing the board of directors to make such changes.
The meeting will also pass a proposal authorizing the board of directors to proceed with the entire process if it deems appropriate to merge with other banks and financial institutions or acquire other banks and financial institutions. The meeting will elect 3 directors to represent founding shareholders on the board of directors.
The meeting will approve the annual report and auditor's report for the last fiscal year, as well as the proposal regarding the appointment of the auditor and determination of their remuneration for the current fiscal year 2083/84. The meeting will approve the consolidated financial statements, including the financial statements of subsidiary companies Nabil Investment Banking and Nabil Stock Dealer for the last fiscal year.