Mountain Energy Nepal Announces 20% Bonus Shares and 1.0526% Cash Dividend

Mountain Energy Nepal Limited (MEN) has announced a dividend distribution for its shareholders from the profits earned in the previous fiscal year. The company plans to distribute bonus shares equivalent to 20% of its current paid-up capital, along with a cash dividend of 1.0526% to cover the tax applicable to the bonus shares. The decision was made during a meeting of the company’s Board of Directors held on Ashoj 26. The board also decided to convene the company’s 13th Annual General Meeting (AGM) on Kartik 20. The AGM will begin at 10:30 a.m. at Amrapali Banquet Catering and Events in Bhatbhateni, Kathmandu. During the meeting, shareholders will discuss and approve the proposed dividend distribution, authorize the Board of Directors to amend the company’s Memorandum of Association and Articles of Association, elect five directors, and appoint an auditor, among other agenda items. For the purpose of the AGM and dividend distribution, the company has announced a book closure date of Kartik 10 for one day. Accordingly, shareholders who hold the company’s shares by the end of trading on Kartik 9, as recorded on the Nepal Stock Exchange (NEPSE), will be eligible to attend the AGM and receive the proposed dividends. The announcement is expected to draw the attention of investors monitoring dividend-paying companies in Nepal’s stock market. However, the proposed dividend distribution remains subject to approval at the company’s AGM. Note: The English calendar date for Kartik 20 should be verified against the relevant Nepali calendar year before publication.