Muktinath Bikas Bank to Conduct AGM on 28th Poush; Company to Endorse 10.2632% Dividend

Muktinath Bikas Bank Limited (MNBBL) has called its 17th AGM on 28th Poush, 2080. The meeting will be held in the City Square, New Road, Pokhara, starting at 10 AM.

Among the other agendas, the AGM will endorse a 10.2632% dividend for the fiscal year 2079/80. The 311th meeting of the board of directors decided to distribute the dividend on the paid-up capital of Rs. 6.42 Arba. 9.75% bonus shares worth Rs 62.60 Crores and 0.5132% cash dividend (including bonus shares tax purposes) worth Rs 3.29 Crores have been proposed.

Furthermore, an agenda is to endorse the auditor's report with PL statements, financial reports, and cash flow reports and appoint an auditor for the fiscal year 2080/81. There's also an agenda to elect 3 directors from the public shareholding group and 2 directors from the promoter shareholding group. There is also an agenda to identify a suitable development bank for merger and acquisition with Muktinath Bikas Bank Limited.

Earlier, the trading of Muktinath Bikas Bank Limited (MNBBL) has been suspended by NEPSE on December 22 due to a violation of NEPSE regulations as the company convened a board meeting regarding dividend declaration on Poush 5 during trading hours. The company is now mandated to provide NEPSE an explanation within 3 working days regarding the breach.

The book closure date is on Poush 19. Thus, shareholders maintained before that day are entitled to the dividend payout and can also attend this AGM.

AGM Notice: