Machhapuchhre Bank holds 27th AGM, approves 8% dividend for shareholders
With this, Machhapuchhre Bank has become the first commercial bank in the country to complete its AGM and announce dividend distribution for the ongoing fiscal year.
KATHMANDU: Machhapuchhre Bank Limited successfully conducted its 27th Annual General Meeting (AGM) today at Hotel Pokhara Grande, Pokhara.
The AGM endorsed the annual report of fiscal year 2081/82 and approved an 8% dividend (including tax) for its shareholders from the bank’s net profit. Of this, 4% will be distributed as cash dividend and 4% as bonus shares.
With this, Machhapuchhre Bank has become the first commercial bank in the country to complete its AGM and announce dividend distribution for the ongoing fiscal year.
The bank confirmed that cash dividends will be credited to shareholders’ accounts before the Dashain festival, while bonus shares will raise the bank’s paid-up capital to NPR 12.08 billion.
During the last fiscal year, the bank recorded a net profit of Rs 1.88 billion, maintaining earnings per share (EPS) of Rs 16.21.
The AGM witnessed notable participation from both founding and general shareholders.
