NBBU AGM today, but no dividend this time around

ShareSansar, July 10:

Nepal Bitumen and Barrel Udyog Limited (NBBU)  is holding its 25th Annual General Meeting today.  This time around, however, the company is not pledging any dividend to its shareholders from the net profit it earned in the last fiscal year 2069/70.

The AGM being held at The Embers Restaurant, Krishna Galli at Thapathali will only endorse the financial report of the company for the last fiscal year and re-appoint M khanal and Company as its auditor.

The company listed at Nepal Stock Exchange Limited had distributed 10 percent cash dividend each for the last three fiscal years.
It has also not cited any reason as to why it is not able to pledge any dividend this time.

NBBUL, a Public Limited Company, established by Nepal Oil Corporation Limited in 1984 was taken over by Panchakanya Group - a leading industrial and trading house of Nepal in 1994 under government's privatization program.