February 14, 2023 | Investopaper
Nadep Laghubitta Bittiya Sanstha Limited has cancelled the proposed dividend to the shareholders from the fiscal year 2078/79.
Due to break-off of acquisition with Deprosc Laghubitta, Nepal Rastra Bank has prohibited the microfinance company to distribute the dividend until the merger/acquisition is completed with other microfinance companies.
Earlier, the board meeting of the company held on Magh 18, 2079 BS had proposed a 10.526 percent dividend. The total dividend included a 10 percent bonus share and a 0.526 percent cash dividend (for tax purposes). The company had planned to distribute the bonus share worth Rs. 4.85 crores. Likewise, the cash dividend was worth Rs. 25.56 lakhs.
From the previous fiscal year 2077/78, the company had distributed a 21.053 percent dividend, including a 20 percent bonus share and a 1.053 percent cash dividend.
As of Poush’s end 2079 BS, NADEP Laghubitta has a paid-up capital of Rs. 48.57 crores.