Mahuli Laghubitta AGM to be held on Wednesday; issuing FPO; distributing 21.5 percent dividend

Kathmandu, April 6

Mahuli Laghubitta Bittiya Sanstha Limited has convened its eighth annual general meeting on Wednesday. The meeting will held at 11 am at the company’s central office in Saptari.

The meeting will pass the proposed total dividend of 21.5 percent. The company is set to distribute 20 percent bonus shares and 1.5 percent cash dividend this year. Along with the dividend proposal, the meeting will also finalize the financial report including the annual report of the last fiscal year 076/77, appointment of auditor for the current fiscal year and determination of its remuneration. Also, a proposal to issue FPO at a premium has been decided for the meeting.

The meeting will also elect four directors on behalf of the founding shareholders and two on behalf of the general shareholders. The meeting will also decide to give full responsibility to the board of directors if it is necessary to go through the process of merger and acquisition with any other financial institution.

The company has closed the book on Chaitra 10 (one day) for the purpose of the general meeting. Based on the book close, only the existing shareholders till Chaitra 9 are eligible to receive dividend and participate in the general meeting.

This year, the company is going to distribute 10.53 percent less dividend than last year. Last year, the company had distributed a total of 31.58 percent dividend with 20 percent bonus shares and 11.58 percent cash dividend. Currently, the company’s paid-up capital is Rs. 18 crore 66 lakh 20 thousand. The company will distribute dividend on the basis of the same capital.