United Finance Proposes 19% Stock Dividend

Sep 12, 2017 Merolagani

United Finance has proposed of distributing 19 percent stock dividend. The board of directors meeting of the company proposed of distributing the stock dividend minus cash dividend for tax purpose. The shareholders of the company will have to pay cash for the tax purpose.

The proposed dividend is subjected to be approved from NRB and the upcoming AGM of the company.

Presently, the company has paid-up capital of Rs 672.7 million that will reach Rs 800 million after the bonus distribution.

Moreover, the company is set to bring Muthooth Finance, an Indian company as a foreign strategic partner. United Finance will sell 20 percent ownership i.e. 2.1 million units of share to Muthooth Finance. It has also obtained approval to issue 20 percent right issue from SEBON.

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