Bhadra 29, Kathmandu.
Shine Resunga Development Bank Ltd. has proposed to distribute a 16 percent dividend to its shareholders from the distributable accumulated profit for the fiscal year 2082/83.
The Board of Directors meeting of the bank held on Bhadra 28 has proposed to distribute a total of 16 percent dividend, comprising 6 percent bonus shares and 10 percent cash dividend from its paid-up capital.
The bank has stated that the proposed cash dividend also includes the tax amount for the bonus shares. As per the Board of Directors’ proposal, the bank will need to obtain approval from Nepal Rastra Bank for dividend distribution. After receiving approval from Nepal Rastra Bank, the dividend proposal will need to be passed by the bank’s upcoming Annual General Meeting.
Advertisement
The bank has stated that only after the proposal is passed by the Annual General Meeting will bonus shares and cash dividends be distributed to shareholders.
The 6 percent bonus shares proposed for distribution by the bank will increase the paid-up capital, while the 10 percent cash dividend will be received by shareholders as direct returns. The bank’s capital structure will also change after the dividend distribution.
For More: Shine Resunga Bank Dividend
