Nepal Oil Corporation to Distribute 10% Dividend to Shareholders

Nepal Oil Corporation (NOC) has decided to distribute a 10% cash dividend to its shareholders. The decision was made during a meeting of the corporation’s board of directors on Chaitra 4, approving a 10% cash dividend (including tax) based on its paid-up capital.

According to NOC’s data, its paid-up capital stands at 11 billion Nepali rupees. Based on this, the corporation will distribute a total of 1.1 billion rupees in dividends to its shareholders. To ratify this proposal, NOC has called its 43rd Annual General Meeting (AGM) on Chaitra 29 at 1:00 PM in the meeting hall of the Ministry of Industry, Commerce, and Supplies in Singha Durbar.

The AGM will approve the board of directors’ report, the auditor’s report along with the balance sheet, profit and loss account, and cash flow statement for the fiscal year 2080/81 (2023/24). It will also address the appointment of an auditor, approval of remuneration and expenses, and the appointment of an auditor for the fiscal year 2081/82 (2024/25) based on consultation with the Office of the Auditor General, including fixing their remuneration. Additionally, one representative each from the shareholders and the board will be designated to sign the AGM’s resolution book.

Previously, NOC distributed a 20% cash dividend to shareholders for the fiscal year 2076/77 (2019/20).