General meeting held by Machhapuchhre Bank, how long will shareholders get dividends?

Kathmandu, sept 13: Machhapuchhre Bank has held its Annual General Meeting. The meeting of the board of directors of the bank held on 26th of August has decided to organize its 25th annual general meeting on 18th of October. The meeting will be held at Hotel Pokhara Grand in Pokhara, Kaski from 11 am. The assembly will approve a total of 14 percent dividend for the last financial year 2079/80, including 13.30 percent bonus shares and 0.70 percent cash dividend for tax purposes.

The dividend, which has been approved by Nepal Rastra Bank, will now be distributed to the shareholders only after the next annual general meeting of the bank approves it. There is also a proposal to authorize the board of directors to amend the charter and regulations of Machhapuchhre Bank with other suitable banks and financial institutions for merger or acquisition.

The meeting will also pass proposals including appointing an auditor. The bank has decided to close the book on October 8th for the purpose of dividend and annual general meeting. This means that only the permanent shareholders till October 7th will be able to receive the bank’s dividend and participate in the meeting.