Kathmandu. Shine Resunga Development Bank Limited has proposed to distribute 16 percent dividend to its shareholders from the distributable accumulated profit for the financial year 2082÷83.
The meeting of the Board of Directors of the bank held on September 12 has proposed to distribute 16% dividend comprising 6% bonus shares and 10% cash dividend on the paid-up capital of the bank.
The proposed cash dividend will also include tax on bonus shares. According to the proposal of the Board of Directors, the bank will have to get approval from Nepal Rastra Bank for distribution of dividend. After getting approval from the Rastra Bank, the proposal regarding the dividend will have to be approved by the next Annual General Meeting of the Bank.
The bank said that the bonus shares and cash dividend will be distributed to the shareholders only after the proposal is approved by the AGM. The 6 percent bonus shares proposed by the bank will increase the paid-up capital and 10 percent cash dividend will be received as a direct return to the shareholders. After the dividend distribution, the capital structure of the bank will also change.
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