Nepal Lube Oil Limited recently held its 34th Annual General Meeting (AGM), approving a 21% dividend for its shareholders despite challenging economic conditions.

The proposed payout includes a 20% bonus share and a 1.05264% cash dividend, reflecting the company’s continued commitment to shareholder value.

Except for the COVID-19 period and times of economic slowdown, the company has consistently delivered high returns over the past decade.

Shareholders at the meeting lauded Nepal Lube Oil Limited for its steady growth, transparent governance, and unwavering commitment to shareholder interests, establishing the company as a successful and reliable institution in Nepal.

The AGM was attended by Chairman Arun Kumar Chaudhary, Managing Director and CEO Karan Chaudhary, members of the Board of Directors, company secretary, auditors, management team, and shareholders, with an impressive 84.86% participation.

Addressing the meeting, Chairman Arun Kumar Chaudhary said, “Despite various challenges, the company continues to move forward with determination. Achieving positive growth compared to the previous year, we have successfully provided shareholders with strong returns. This success is credited to our dedicated employees, management team, board of directors, and the trust and cooperation of our shareholders. We will continue to progress with the same commitment and trust in the future.”

The company’s robust growth and strong performance have once again excited shareholders, reflecting confidence in its strategic direction.

Nepal Lube Oil Limited manufactures, markets, and distributes Gulf-branded lubricants in Nepal under direct technical guidance and supervision from Gulf Oil International.

Gulf, a globally renowned lubricant brand, has gained widespread popularity in Nepal for its high-quality products. Its diverse product range caters to various automotive and machinery needs, solidifying its reputation as a trusted and prestigious brand in the Nepali market.