December 19, 2022 | Investopaper
Forward Microfinance Laghubitta Bittiya Sanstha Limited (FOWAD) has announced dividend to the shareholders. The dividend declaration is from the profit of the fiscal year 2078/79.
The microfinance has proposed a 30 percent dividend. The total dividend includes a 25 percent bonus share and a 5 percent cash dividend. The bonus share is worth Rs. 21.11 crores while the cash dividend amounts to Rs. 4.22 crores. Therefore, the microfinance is planning to distribute Rs 25.33 crores as dividends.
From the previous fiscal year 2077/78, FOWAD had distributed a 42 percent dividend, including a 35 percent bonus share and a 7 percent cash dividend.
As of Ashad’s end 2079 BS, Forward Microfinance has a paid-up capital of Rs. 84.44 crores. After the inclusion of the bonus share, the capital will increase to Rs. 105.55 crores.
The dividend is subject to approval from Nepal Rastra Bank and the upcoming AGM of the microfinance.