Machhapuchchhre Bank to approve 15% dividend; 19th AGM today

Machhapuchchhre Bank Limited (MBL) is convening its 19^thAnnual General Meeting (AGM) today (Mangsir 15, 2074). The AGM is being held at Hotel Pokahra Grand, Pokhara at 11:00 AM. The main agendas of the AGM are:

• To endorse 9% bonus shares and 6% cash dividend (including tax) from the net profit of FY 2073/74.
• To increase issued and paid up capital.
• To endorse decision for the diversification of working areas to insurance, reinsurance, hedge funds, venture capital, stock brokers, stock exchange,etc.
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA).

Other agendas of the AGM are major financial highlights of FY 2073/74 and appointment of auditor for the FY 2074/75. The book closure date for the AGM has been set on Mangsir 1,2074 to Mangsir 15, 2074. Thus only those shareholders owning shares till Kartik 30, 2074, i.e. one day ahead of the book closure date are eligible to participate in the AGM and proposed bonus shares. After 10% bonus share distribution, it will reach to Rs 8.05 arba. It had earned Rs 28.09 crore in the first quarter of FY 2074/75.