The Mahalaxmi Bikas Bank Limited (MLBL) has scheduled its 20th Annual General Meeting for the 25th of Poush, 2078. The meeting would begin at 11 a.m. that day at the Tribhuvan Army Officers Club in Tundikhel, Kathmandu.
The AGM will approve a 21.0526 percent dividend for fiscal year 2077/78, among other items on the agenda. The board of directors decided to disburse the dividend on the Rs. 3.34 Arba paid-up capital at their meeting on Mangsir 12. The proposal is for 20% bonus shares worth Rs 66.84 crores and a 1.0526 percent cash dividend (including tax) of Rs 51.83 lakhs.
In addition, three promoters and three public shareholders will be elected to the board of directors at the AGM. A resolution to increase the company’s existing authorized capital from Rs. 4 Arba to Rs. 8 Arba is also on the agenda.