The board of directors meeting of the company held on October 22 decided to propose 10 percent stock dividend worth Rs 20.7 million and 5 percent cash dividend worth Rs 10.3 million to the shareholders.
Previously, the board of directors meeting held on September 16 proposed of distributing 10 percent stock and 5 percent cash plus 0.79 percent cash dividend for tax propose.
However, NRB declined to approve the proposal of additional 0.79 percent cash dividend for tax purpose. Following the intervention, the tax amount will be deducted from the cash dividend of 5 percent.
The proposed dividend is subjected to approval from NRB and its upcoming AGM. The current paid-up capital of Rs 207.4 million will total Rs 228.1 million after the bonus share distribution.
