KATHMANDU: Mountain Energy Nepal Limited has announced a dividend to be distributed to shareholders from the profit of the last financial year. The company has decided to distribute 20 percent bonus shares of the current paid-up capital and 1.0526 percent cash dividend for tax purposes.

The meeting of the board of directors of the company held on October 12 has proposed to distribute the dividend. The company has called its 13th Annual General Meeting (AGM) on November 9 to approve the proposed dividend.

The AGM of the company will begin at 10:30 am at Amrapali Banquet, Catering and Events in Bhatbhateni, Kathmandu. The meeting will pass a proposal related to distribution of dividends, authorize the Board of Directors to amend the Memorandum of Association and Articles of Association, elect five directors and appoint auditors.

For the purpose of AGM and dividend distribution, the company has decided to cancel the share filing (book close) for one day on October 24. Accordingly, the shareholders who have been trading in the Nepal Stock Exchange (NEPSE) till October 24 will be able to attend the AGM and receive the proposed dividend.