Shine Resunga Development Bank Proposes 11.05 Percent Dividend
October 12, 2023 | Investopaper
Shine Resunga Development Bank, a national-level development bank of Nepal, has declared a dividend to the shareholders. The dividend announcement is from the fiscal year 2079/80.
The development bank has proposed an 11.05 percent dividend. The total dividend includes a 10.50 percent bonus shares and 0.55 percent cash dividend (for tax purposes).
As of Ashad’s end 2080 BS, Shine Resunga Development Bank has a paid-up capital of Rs 4.28 Arba. At this capital, the bonus share is worth Rs 44.98 crores while the cash dividend amounts to Rs 2.36 crores. Hence, the company is planning to distribute Rs 47.34 crores as dividends. After the inclusion of proposed bonus shares, the capital will rise to Rs 4.73 Arba.
The dividend is subject to approval from Nepal Rastra Bank and the upcoming Annual General Meeting (AGM).
From the previous fiscal year 2078/79, Shine Resunga Development Bank had distributed a 14 percent dividend, including a 13.30 percent bonus share to the shareholders.
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