NRB Approves Dividend of Chhimek Laghubitta

Apr 18, 2019 Merolagani

Nepal Rastra Bank (NRB) has approved 40 percent dividend proposal of Chhimek Laghubitta(CBBL). NRB approved the proposal after Chhimek Laghubitta made few changes in its proposal as per its direction.

Previously, the central bank directed the company to maintain a reserve fund equivalent to the proposed stock and cash dividend after noticing errors in its financial reports.

 Chhimmek Laghubitta, after rectifying the errors in its financial report, sought dividend approval from NRB. NRB granted permission to distribute the dividend on April 18.

Now, the company will distribute 22 percent cash dividend worth Rs 220 million and 18 percent stock dividend worth Rs 180 million. The dividend proposal is subjected to approval from its upcoming AGM.

Presently, the company has paid-up capital of Rs 1 billion that will reach Rs 1.18 billion after the bonus share distribution.  

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