NMB Bank offers 18.8 percent dividend for FY 2077/78

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Kathmandu: NMB Bank has proposed 18.8 percent dividend from the profit of the Fiscal Year 2077/78. A meeting of the board of directors held on Friday proposed a 12.5 percent bonus share of the paid-up capital and a 3.3 percent cash dividend for tax purposes on the bonus shares. The bank’s ability to distribute dividends was 14.30 percent, according to its unaudited financial statements.

The current paid up capital of the bank is Rs.16.32 billion. After the proposed 12.5 percent or Rs .2.4 billion bonus share distribution, the paid up capital will reach Rs 18.36 billion.

The dividend proposed by the bank will be submitted to the annual general meeting only after it is approved by Nepal Rastra Bank, the central bank. Shareholders will receive the dividend only after the AGM passes the proposed dividend. The bank had also paid a dividend of 16.2 percent last year. Which had 13 percent bonus shares. The bank has reduced bonus shares and increased cash dividends this time.

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