Machhapuchchhre Bank to Hold AGM on Ashwin 10; Announces 8% Dividend

Machhapuchchhre Bank Limited (MBL) has scheduled its 27th Annual General Meeting (AGM) for Ashwin 10, 2082, at Hotel Pokhara Grand, Pokhara. The meeting will begin at 11 AM.

The AGM will endorse the proposed 8% dividend for the fiscal year 2081/82. As per the decision of the board meeting held on Bhadra 12, the bank has proposed a 4% bonus share and a 4% cash dividend (including tax). The bank’s current paid-up capital stands at Rs. 11.62 Arba.

In addition, the AGM agenda includes endorsing the auditor’s report along with the profit and loss account, financial statements, and cash flow statements for FY 2081/82. It will also appoint an auditor for the fiscal year 2082/83 and approve the appointment of a director representing the public shareholders’ group.

The bank has also proposed issuing 8.25% Machhapuchchhre Perpetual Non-Cumulative Preference Shares worth Rs. 3 Arba at a face value of Rs. 100 per share. Similarly, the authorized capital of the bank will be increased from Rs. 15 Arba to Rs. 20 Arba, and related provisions of the Memorandum of Association will be amended accordingly to reflect the issuance of bonus shares and preference shares.

Other agendas include revising directors’ meeting allowances and benefits, amending provisions of the bank’s bylaws, and authorizing the board to make necessary amendments as directed by regulatory authorities.

The book closure date has been set for Bhadra 27. Shareholders who have maintained shares before this date will be eligible to receive the dividend and attend the AGM.