January 8, 2023 | Investopaper
Jyoti Bikas Bank (JBBL), a national-level development bank, has announced a dividend to the shareholders. The dividend declaration is from fiscal year 2078/79.
JBBL has proposed a 6.80 percent dividend. The total dividend includes a 3 percent bonus share and a 3.60 percent cash dividend. The bonus share amounts to Rs. 12.80 crores while the cash dividend is worth Rs. 16.21 Crores. Hence, the development bank is planning to distribute Rs. 29.02 crores as dividend to the shareholders.
As of Ashad’s end 2079 B.S, Jyoti Bikas Bank has a paid-up capital of Rs 4.26 Arba. After the adjustment of proposed bonus share, the capital will rise to Rs 4.39 Arba.
The dividend is subject to approval from Nepal Rastra Bank and the upcoming Annual General Meeting (AGM).
From the previous fiscal year 2077/78, Jyoti Bikas Bank had distributed 15.5 percent dividend to the shareholders, including an 11 percent bonus share and a 4.5 percent cash dividend.