November 5, 2020 | Investopaper
Citizens Bank International (CZBIL) has amended the dividend to the shareholders from the fiscal year 2076/77. The bank changed the dividend after NRB dismissed the previous dividend announcement.
The board of directors meeting held on Karthik 19, 2077 has proposed an 11 percent dividend. This includes an 8 percent bonus share and 3 percent cash dividend. The bonus share amounts to Rs 72.72 crores while the cash dividend is worth Rs 27.27 crores.
Previously, Citizens Bank had proposed the same 11 percent dividend. However, it included 7.70 percent bonus share 3.30 percent cash dividend.
The bank will distribute the dividend after approval from Nepal Rastra Bank and the upcoming Annual General Meeting (AGM).
From the previous fiscal year 2075/76, Citizens Bank had distributed 15 percent dividend including a 3 percent bonus share and 12 percent cash dividend.
Citizens Bank International has a current paid-up capital of Rs. 9.09 Arba. After the adjustment of the current 7.7 percent bonus share, the capital will rise to Rs 9.82 Arba.