Shine Resunga Development Bank Proposes 8 Percent Dividend
November 10, 2024 | 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 2080/81.
The development bank has proposed an 8 percent dividend. The total dividend includes a 3 percent bonus share and a 5 percent cash dividend (for tax purposes as well).
As of Ashad’s end 2081 BS, Shine Resunga Development Bank has a paid-up capital of Rs 4.73 Arba. At this capital, the bonus share is worth Rs 14.20 crores while the cash dividend amounts to Rs 23.66 crores. Hence, the company is planning to distribute Rs 37.86 crores as dividends. After the inclusion of proposed bonus shares, the capital will rise to Rs 4.87 Arba.
The dividend is subject to approval from Nepal Rastra Bank and the upcoming Annual General Meeting (AGM).
From the previous fiscal year 2079/80, Shine Resunga Development Bank had distributed an 11.05 percent dividend, including a 10.50 percent bonus share to the shareholders.
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