Garima Bikas Bank Proposes 20% Dividend
Garima Bikas Bank has proposed a 20% dividend for FY2082/83, comprising 10% bonus shares and 10% cash dividend, subject to regulatory and shareholder approval.
Garima Bikas Bank Limited (GBBL) has proposed a 20% dividend to its shareholders from the profit earned during FY2082/83.
The bank's 351st Board of Directors meeting, held on Thursday, decided to distribute a 10% bonus share and 10% cash dividend, including applicable taxes, based on its current paid-up capital of Rs. 6.02 billion.
The proposed dividend is subject to approval from Nepal Rastra Bank and endorsement by the bank's upcoming 20th Annual General Meeting (AGM).
The dividend will be distributed to eligible shareholders only after the required regulatory and shareholder approvals are obtained.
Following the proposed issuance of 10% bonus shares, Garima Bikas Bank's paid-up capital will increase from Rs. 6.02 billion to Rs. 6.62 billion.
The proposed distribution would therefore provide shareholders with both an increase in their shareholding through bonus shares and a cash return, although the final dividend remains subject to the required approvals.