General meeting of Nepal Bank on Friday, 17 percent dividend proposal

Kathmandu. Nepal Bank Limited has convened its 62nd Annual General Meeting on Friday. A meeting of the Board of Directors of the bank on December 26 decided to hold a meeting at the bank’s head office, Dharmapath, Kathmandu at 11 am through virtual medium. The meeting will pass the financial statements including the annual report of the last fiscal year 077/78 and will also finalize the proposed total dividend of 17 percent.

A meeting of the Board of Directors of the bank on October 22 proposed to distribute 14 percent bonus share and 3 percent cash dividend for tax purposes from the distributable profits of the last fiscal year 077/78 on the basis of the existing paid-up capital. At present, the bank’s working capital is Rs. 12.63 billion 67.58 million.

After bonus this capital is Rs. 14.40 billion will be reached. The bank has closed the book for one day on December 7 for the purpose of general meeting. On the basis of book-closing, only the existing shareholders are eligible to receive this year’s dividend of the bank and participate in the meeting.