Prime Commercial Bank Calls Out AGM; To Endorse 16% Dividend Proposal

May 15, 2019 Merolagani

Prime Commercial Bank (PCBL) has called out its 11th AGM on June 9. For the AGM, the bank is closing its book on May 23, thus, the shareholders registered in its book till May 22 will be eligible to attend the AGM and obtain the announced dividend.

The meeting is scheduled to endorse a proposal of distributing 16 percent stock dividend.

Speaking to Merolagani, Santosh Baral, Company Secretary of the bank informed that the bank will publish a notice regarding the AGM on May 16. Moreover, he clarified that the dividend proposal is still there despite failure of acquisition process with Om Development Bank.

As per him, Nepal Rastra Bank has given three months period to the bank to seek any other merger/acquisition partner.

Presently, the bank has paid-up capital of Rs 8.03 billion that will reach Rs 9.31 billion after the bonus share distribution.

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