Shine Resunga Proposes 16% Dividend for FY 2082/83
Shine Resunga Development Bank has proposed a 16% dividend for FY 2082/83 comprising 6% bonus shares and 10% cash dividend worth Rs. 50.21 crore.
Shine Resunga Development Bank Limited (SHINE) has proposed a 16% dividend for its shareholders for the fiscal year 2082/83.
The bank’s 338th board meeting, held on Bhadra 28, proposed distributing 6% bonus shares and 10% cash dividend based on the bank’s existing paid-up capital.
With the bank’s paid-up capital standing at approximately Rs. 5.02 arba, the proposed 6% bonus shares are worth around Rs. 30.13 crore.
Similarly, the 10% cash dividend amounts to approximately Rs. 50.21 crore.
The proposed dividend totals 16%, combining the bonus share and cash components.
However, the dividend will not be distributed immediately. The proposal must first receive approval from Nepal Rastra Bank (NRB) and subsequently be endorsed by the bank’s upcoming Annual General Meeting (AGM).
As of the time of reporting, SHINE’s last traded price (LTP) stood at Rs. 422.00.