January 1: Nepal Lube Oil limited, the authorised distributor of Gulf Oil International, which manufactures and distributes Gulf Lubricants in Nepal, has announced to distribute 40 percent cash dividend to its shareholders.
The announcement was made during the 27th AGM of the company on December 27 in Lalitpur.
“The business of lubricants in Nepal is highly competitive, but Gulf Lubricants with its dedicated team and innovative strategy backed by world class products has managed to achieve the volume of 2600+ kilo litres sales in this financial year,” said Arun Kumar Chaudhary, chairman and MD of the company.
He further added, “This has further consolidated our position as No 1 lubricant brand in the country.”
