Nabil Bank to approve 30% stock & 15% cash dividend; 32nd AGM today

Nabil Bank Limited (NABIL) is convening its 32^nd Annual General Meeting (AGM) today (Ashwin 18, 2073). The AGM is going to be held at Nepal Pragya Pratisthan, Kamaladi Kathmandu at 10: 00 AM. Main agendas of the AGM are:

• To increase its authorized capital up to Rs 6 arba 50 crore.

• To endorse 30 percent (10:3) bonus shares and 15 percent cash dividend including for tax purpose from the net profit it earned from the fiscal year 2072/73. The fractional bonus share will be rounded to the nearest whole number. After the distribution of bonus share, issued and paid up capital will rise to Rs. 6.18 arba.
• To amend article of association and memorandum of association as per directed by registrar officer or Nepal Rastra Bank.
• To authorize BOD to take necessary step as per the direction of regulatory bodies like company registrar office, Nepal Rastra Bank, Sebon, Nepse and CDS and Clearing Limited.

Other main agendas of the AGM include financial highlights of 2072/73, appointment of auditor , to consolidate financial highlights of subsidiary company-Nabil Investment Banking Limited and to elect 1 BOD member from promoter shareholders group (Shareholders buying shares of Nepal Beema Sansthan, Nepal Stock Exchange Limited and NIDC Development Bank Limited) and 2 BOD member from public shareholders group. Only those shareholders owning shares till Ashwin 4, 2073 are entitled to the bonus share of the company. The register of their shareholders has been closed from Ashwin 5, 2073 till today for the purpose of its AGM. NABIL has earned net profit of Rs 2.82 arba in the fourth quarter of the last fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at Rs 4.75 arba and after the issuance of 30 percent bonus share it’s paid up capital will rise to Rs 6.17 arba.