Last trading day in NEPSE to grab dividend of Machhapuchchhre Bank and Nepal Lube Oil

Today is the last trading day in NEPSE to grab the dividend of Machhapuchchhre Bank Limited (MBL) and Nepal Lube Oil (NLO).

Machhapuchchhre Bank (MBL) has published a notice today calling its shareholders for the 22nd Annual General Meeting (AGM). The AGM is going to held on Kartik 6, 2077 at Hotel Pokhara Grand, Pardi, Pokhara from 11 AM onwards. The book closure date for the purpose of AGM and dividend distribution has been set on Ashwin 22, 2077. Therefore, the shareholders maintained on Ashwin 21, 2077 (Wednesday) will be eligible for dividends and participants on AGM.

The agendas of the meeting are:

-Approval of 7.03% bonus shares and 3.37% cash dividend (including tax) proposed by The Board of Directors

- To elect 3 directors from the public shareholders' group.

- To give authority to BOD for mergers and acquisitions.

-Appointment of the auditor and determination

Likewise, Nepal Lube Oil Limited (NLO) has announced its 29th AGM on Kartik 05. For the AGM, the book closure date is from Ashwin 22 to Kartik 05. Therefore, the shareholders maintained on Ashwin 21, 2077 (Wednesday) will be eligible for dividends and participants on AGM.

The AGM will be streamed via Zoom because of the Covid-19 pandemic. It will start at 11:30 am that day.

Among other proposals, the AGM will endorse a 10% cash dividend for the fiscal year 2076/77. Also, the AGM will discuss increasing the authorized capital from the current Rs. 3 crores to Rs. 5 crores.