Excel Development Announces Attractive Dividend

Sep 11, 2017 Merolagani

Excel Development Bank (EDBL) has announced an attractive dividend for the last FY. The 195th board of directors meeting proposed of distributing 30.12 percent stock and 1.58 percent cash dividend to its shareholders.

The bank will distribute Rs 115,830,225 in bonus shares and Rs 6,096,327 in cash dividend for tax purpose.

The proposed dividend is subjected to approval from NRB and the upcoming AGM.

Presently, the bank has paid-up capital of Rs 384.5 million which will totals Rs 500 million after bonus distribution.

The bank is also issuing 50 percent right shares to its existing shareholders for which it has already closed its book on September 5. Thus, shareholders registered in the book by September 4 can apply for the right shares.

The bank earned net profit of Rs 152.6 million in the last FY. It has reserve fund of Rs 233.3 million.


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