KATHMANDU
Nepal Lube oil Ltd has conducted its 31st Annual General Meeting. Despite the volatile economic situation, the company has been able to maintain steady year-on-year growth. The company approved the distribution of a 30% dividend (25% bonus+5%cash) to its shareholders through the meeting. The outstanding performance of the company and the Dividend was highly applauded by the shareholders present.
The meeting was attended by the company Chairman Mr. Arun K. Chaudhary, Board Members, the company secretary, Auditor, the Management team, and the shareholders. A total of 81.25% of shareholders attended the meeting.
Addressing the meeting, Chairman Mr. Arun K. Chaudhary said, ‘Nepal Lube oil Ltd, like year before maintained steady growth even during this difficult economic situation. The Management and other team members are well committed to the growth of this company. We will never disappoint the belief shown and given by the shareholders.’
Post the meeting, the shareholders seemed very excited by the performance of the company. Mr. Damaru Ballav, Mr. Guna Raj Bhatta and other shareholders shared their excitement during the program saying, ‘Nepal Lube Oil Ltd is a role model to other Limited Companies. The company is providing high bonuses regularly to the shareholders. We have to say we are proud to be associated with this company.’
Nepal Lube Oil Ltd, with direct guidance and partnership from Gulf Lubricant International, produces and distributes Gulf Lubricants in Nepal. Gulf Lubricant is one of the leading lubricant brands in the country with the highest market share and wide product range catering to different automobile segments.
