Dividend News
Recent dividend, bonus-share, and right-share announcements from the Nepal market.
LIC Nepal proposes 21% dividends, 20% bonus shares and 1.05% cash on its net profit for FY 2069/70.
On September 19, Standard Chartered Bank Nepal’s Board of Directors approved a 50% dividend comprising 10% bonus shares and 40% cash based on the net profit of fiscal year 2069/70.
Garima Bikas Bank Limited is issuing a 2:1 right share from 18th Ashwin to 21st Kartik, 2070.
The booking of 11 lakh rights shares for Garima Bikash Bank, priced at a 2:1 ratio, closes on November 7. Rights become available on October 4.
Both banks have scheduled their annual general meetings for October 9. Kailash Bikash Bank will hold the meeting at Pokhara Grand Hotel, offering a 9% cash dividend. Rising Development Bank will convene at the Industry and Commerce Association of Chitwan office and propose 7% bonus shares from last year's net profit. Investors should review the proposals and plan to attend or vote accordingly.
The dividend of 10% is still pending approval at the forthcoming Annual General Meeting and by the Nepal Rastra Bank. It was proposed by the board of directors on Monday, based on the net profit reported for the last fiscal year.
The distribution of 7% convertible preference share dividend warrants to preference shareholders begins today, 31st Bhadra, 2070.
Muktinath Bikas Bank Limited has published an offer letter for a 10:3 ratio right share issuance, with the subscription window open until 20th Kartik, 2070.
Gandaki Bikas Bank Limited closes its 1:0.28 right share issue today, 30th Bhadra, 2070.
Muktinath Bikash Bank Limited will offer 73,500 rights shares priced at Rs 100 per unit from Oct 2 to Nov 6, at a 10:3 ratio. Shareholders can exercise their right to purchase at the specified price before the issue closes.
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