Machhapuchhre Bank Announces Annual General Meeting and Dividend! Stock Market Investors, Take Note!
Hello stock market enthusiasts! Exciting news for Machhapuchhre Bank Limited’s shareholders! The bank is holding its 27th Annual General Meeting (AGM) on October 10th to approve the dividend distribution for the last fiscal year. This is a crucial event for investors interested in receiving dividends and staying updated on the bank’s performance.
The AGM will be held at Hotel Pokhara Grand, Pokhara, Kaski, starting at 11 AM. The primary agenda of the meeting is to pass a special proposal for distributing a dividend from the previous year’s profits. Shareholders will be voting on a distribution of 4% bonus shares and 4% cash dividend (including tax) on the existing paid-up capital. This is significant news for stock holders looking to increase their investments.
But that’s not all! The Machhapuchhre Bank AGM also includes several other important proposals. These include:
- Issuing 8.25% non-redeemable cumulative preference shares worth NPR 3 billion at a face value of NPR 100 per share. This is a key strategic move for the bank, likely aiming to raise capital.
- Authorizing the board of directors to amend the Articles of Association and Regulations.
- Approving the appointments made by the committee for vacant director positions.
- Appointing a new auditor.
Important Date for Investors: Book Closure
For all you investors who want to participate in the AGM and receive the proposed dividends, mark your calendars! The bank has announced a book closure date of September 12th. This means that anyone who owns Machhapuchhre Bank shares and whose name appears on the NEPSE records as of September 11th will be eligible to attend the AGM and receive the dividend. Therefore, you need to own the stock and have it reflected in your trading account by the close of trading on September 11th to be eligible.
What Does This Mean for You?
This is an excellent opportunity for Machhapuchhre Bank shareholders to benefit from the bank’s performance. The dividend payout and the other strategic proposals being put forth highlight the bank’s ongoing commitment to growth and shareholder value. Remember to attend the AGM or make sure your proxy votes are cast to have your say. Keep up to date with the stock market and financial news from the NEPSE! Stay tuned for more updates on Machhapuchhre Bank and other Nepalese stocks! Invest wisely and stay informed!
