Mahalaxmi Bikas Bank Endorses Dividend

Oct 12, 2018 Merolagani

The 17th AGM of Mahalaxmi Bikas Bank (MLBL) has endorsed a proposal of distributing 15 percent dividend to the shareholders. The meeting also delegate authority to BOD to forward required procedure to merge or acquire potential partners.

The AGM held on Friday endorsed a proposal of distributing 8 percent stock and 7 percent cash dividend to its shareholders. It will distribute stock dividend worth Rs 210.7 million and cash dividend wroth Rs 184.3 million to its shareholders.

Presently, the company has a paid-up capital of Rs 2.63 billion which will reach Rs 2.84 billion after the bonus share distribution.

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