Purwanchal Lube Oil Approves 8.42% Cash Dividend at 27th AGM

Purwanchal Lube Oil Limited, manufacturer of PLO brand lubricants, has completed its 27th Annual General Meeting (AGM).

The meeting approved the company’s annual and financial reports for FY 2082/83 along with all other proposals presented by the board.

The AGM also approved an 8.42% cash dividend, including tax, on the company’s paid-up capital. It also approved the appointment of an auditor for the next fiscal year, budget, directors’ remuneration and the election of a new board of directors.

Meanwhile, the company is preparing to issue an IPO through the book-building method. According to the Nepal Stock Exchange, 600,000 shares have been set aside for qualified institutional investors. The company plans to raise capital through the IPO to support its business expansion.