Garima Bikas Bank has proposed to distribute a 20 percent dividend to its shareholders from the profit of fiscal year 2082/83.
Garima Bikas Bank Limited is going to give a sweet surprise to its shareholders. The bank has proposed a big 20 percent dividend from profits of the fiscal year 2082/83. This decision was made during 351st board of directors meeting of bank held on Bhadra 18.
Breakdown of the Dividend
Out of the total dividend, bank has proposed to distributing 10 percent bonus shares and 10 percent cash dividend from its current paid-up capital. The bonus shares amount to Rs. 60 crore 21 lakh 34 thousand 836 and 72 paisa. Similarly, the cash dividend amount is also the exact same, which is Rs. 60 crore 21 lakh 34 thousand 836 and 72 paisa.
When we combine both the cash and bonus parts, Garima Bikas Bank is planning to distribute a total of Rs. 1 arba 20 crore 42 lakh 69 thousand 673 and 44 paisa to its shareholders.
Next Steps for Approval
But shareholders will have to wait a little bit to get this money in their hands. This proposed dividend first needs to get approval from Nepal Rastra Bank. After that, it must be passed by the bank’s upcoming 20th Annual General Meeting (AGM). The bank said that the actual distribution will start only after the AGM successfully approves it.
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.
