Nabil Bank to Announces 15.80% Dividend

KATHMANDU: Nabil Bank Limited has proposed to distribute a total dividend of 15.80 percent to its shareholders from the distributable profit of the financial year 2082/83. The 712th meeting of the Board of Directors of the bank on Sunday has proposed to distribute 5 percent bonus shares and 10.80 percent cash dividend to the general shareholders.

According to the bank, Rs 1,35,28,49,836.46 has been set aside for the proposed bonus shares and Rs 2,92,21,55,646.76 for the cash dividend. The amount also includes tax on bonus and cash dividend.

Similarly, the bank has proposed to pay a cash dividend at the rate of 8 per cent of the paid-up capital towards 8 per cent unreleased unsecured preference shares. Under this, a cash dividend of Rs 23,34,24,657 will be distributed. The dividend has been calculated for 213 days proportionately from the date of distribution in the financial year 2082÷83.

The bank has a paid-up capital of Rs 5 billion in preference shares and Rs 27.05 billion in ordinary shares with a paid-up capital of Rs 27.05 billion. The dividend has been proposed with an aim to provide reasonable returns to the shareholders on the basis of the financial results achieved in the financial year 2082/83 and sustainable business growth.

The proposed dividend will be distributed only after approval from Nepal Rastra Bank and approval from the upcoming general meeting of the bank. Nabil Bank currently serves more than 2.6 million customers through 263 branches and 315 ATMs across the country.