Nabil Bank convenes AGM to approve dividend, when will the book close?

Kathmandu. Nabil Bank has called its Annual General Meeting.

The bank has called its 42nd Annual General Meeting (AGM) at Tribhuvan Army Officers’ Club, Bhadrakali on October 5.

The bank will present a proposal in the meeting to approve the dividend announced to be distributed to the shareholders from the profit of the last fiscal year.

The bank has proposed to give 5 percent bonus shares and 10.80 percent cash dividend including tax. After the approval of this proposal, the shareholders will get it.

The company has also proposed to distribute 8% cash dividend of the paid-up capital to the shareholders holding 8% unissued reserve preference shares.

The meeting shall submit a proposal to amend the Memorandum of Association and Articles of Association and authorize the Board of Directors to carry out mergers or acquisitions of other appropriate banks and financial institutions.

The meeting will also endorse resolutions such as electing 3 directors and appointing auditors on behalf of promoter shareholders.

The bank is closing the book on September 14 for the purpose of the general meeting and dividend distribution. According to this, the shareholders who have been traded in NEPSE till September 29 will be able to participate in the general meeting of the bank and receive the dividend to be distributed by the bank.