Machhapuchchhre Bank has announced that it will hold its 27th annual general meeting (AGM) in Pokhara on Ashoj 10.
The meeting will discuss the distribution of dividends from the bank’s profit for the last financial year. The proposal includes giving shareholders a 4% bonus share and an additional 4% cash dividend for tax purposes.
The bank also plans to issue preference shares worth Rs 3 billion at a face value of Rs 100 per share with an annual return of 8.25%. The AGM will also decide on giving the board the authority to amend the company’s charter and regulations, approve the appointment of a director in the public shareholders’ group, and select an external auditor.
For the purpose of dividend distribution and AGM participation, the book closure date has been set for Bhadra 27. Shareholders who own shares before this date will be eligible.
