KATHMANDU: Everest Bank Limited has convened its AGM to approve the dividend proposal announced to be distributed to shareholders from the profits of the last financial year. The bank has called its 32nd Annual General Meeting (AGM) on September 30 at Amrapali Banquet, Bhatbhateni, Kathmandu. The meeting will begin at 10 am.

The meeting will pass a special proposal to distribute bonus shares at the rate of 5 percent of the existing paid-up capital and 10 percent cash dividend for tax purposes. Similarly, the meeting will also pass resolutions to amend the Memorandum of Association and Articles of Association and appoint an auditor as the capital will increase after the issuance of bonus shares.

For the purpose of AGM and dividend distribution, the bank will close the book for one day on September 18. According to this, the shareholders who have been traded in NEPSE till September 14 will be able to participate in the AGM of the bank and receive the dividend to be distributed by the bank.