Last Day to Grab 14% Dividend of Machhapuchchhre Bank (MBL)

Machhapuchchhre Bank Limited (MBL) has scheduled its 25th Annual General Meeting (AGM) for October 5, 2023, which falls on Ashwin 18, 2080 BS. The decision to hold the AGM at Hotel Pokhara Grand in Pokhara, Kaski was made during a board meeting on Bhadra 26, 2080 BS. The AGM will commence after 11 A.M.  As per this, shareholders who have been conducting transactions in NEPSE until now can participate in the bank's annual general meeting and receive dividends.

In addition, the AGM will approve special proposals for the distribution of a bonus share of 13.30% equivalent to 1 arba 36 crore 42 lakhs 672 rupees, and a cash dividend of 0.70% per share, which is equivalent to 7 crore 18 Lakhs 89 rupees for the purpose of utilizing the reserve fund.

Furthermore, the AGM has authorized the board of directors to carry out activities related to mergers or acquisitions with other suitable banks and financial institutions, make amendments to the bank's articles of association and regulations, and appoint auditors, among other proposals.

Major Agendas

1. Review and endorsement of financial reports for the fiscal year 2079/80.
2. Authorization of a 14 percent dividend distribution to shareholders.
3. Selection of an auditor for the fiscal year 2080/81.
4. Granting authority to the board of directors for potential merger or acquisition decisions.

In preparation for the AGM, please note that shareholder registration will be closed on Ashwin 8, 2080 BS. This means that individuals who own or purchase shares up to Ashwin 7 will be eligible for the dividend and can take part in the AGM.