December 27, 2022 | Investopaper
Guheshwori Merchant Banking & Finance (GMFIL) has revised the dividend to the shareholders. The dividend declaration is from the fiscal year 2078/79.
As per the direction of Nepal Rastra Bank, the finance company has decided to provide 6.84 percent dividend to the shareholders. The total dividend includes a 6.50 percent bonus share and a 0.34 percent cash dividend (for tax purposes).
Previously, the board meeting of the finance held on Poush 5, 2079 BS had proposed to distribute a 7.37 percent dividend, including a 7 percent bonus share and a 0.37 percent cash dividend (for tax purposes).
As of Ashad’s end 2079 BS, Guheshwori Finance has a paid-up capital of Rs 95.04 crores. On this capital, the bonus share amounts to Rs 6.17 crores while the cash dividend is worth Rs 32.51 lakhs. Thus, the company is planning to distribute Rs 6.50 crores worth of dividend.
The dividend is subject to approval from the upcoming 20th Annual General Meeting of the finance.
From the previous fiscal year 2077/78, GMFIL had distributed a 10.5263 percent dividend to the shareholders, including a 10 percent bonus share and a 0.5263 percent cash dividend.