Nepal Infrastructure Bank (NIFRA) has proposed a 5.2632 percent cash dividend for its shareholders from the distributable profit of fiscal year 2082/83.
Nepal Infrastructure Bank, which is popular as ‘NIFRA’ Limited, has proposed to distributing a cash dividend of 5.2632 percent. This dividend will be given from the distributable profit of the fiscal year 2082/83.
The board of directors of the bank had their 191st meeting on Bhadra 14, 2083, Sunday morning at 7:30 AM. In this meeting, they proposed this cash dividend. Since the bank has a paid-up capital of Rs. 21 arba 60 crore, the proposed cash dividend will be Rs. 1 arba 13 crore 68 lakh 51 thousand 200. This amount also includes the tax needed for dividend purpose.
Approval Required for the Dividend
Now, the bank have decided to request Nepal Rastra Bank to approve this proposed cash dividend. But shareholders will have to wait for some more approvals before they get the cash in their hand.
After the central bank approves this dividend, it must be passed by the bank’s upcoming Annual General Meeting (AGM) of shareholders. Also, as per Section 182 (2) of the Companies Act, 2063, the bank will distribute this dividend only after they get formal approval from the Government of Nepal, Ministry of Finance.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
