Araniko and Triveni Dev. Bank declares 10% stock dividend each

Araniko Development Bank Limited (ARDBL) has announced a 10% stock dividend and 0.53 cash dividend (for tax purpose) from the profit earned in the last fiscal year. The 202nd BOD Meeting of Araniko Development Bank held on Ashwin 25, 2072 has proposed distribution of 10% Stock Dividend (Bonus Shares) and 0.53% Cash Dividend (for Tax Purpose) to their Shareholders which is subject to the approval from NRB and its upcoming AGM. At Present the development bank has a paid up capital of Rs 23.43 crore. After the issuance of bonus share its paid up capital will reach to Rs 25.78 crore. The development Bank had provided 5% stock dividend to its shareholders from the net profit it earned in fiscal year 2070/71. Araniko development bank had accumulated net profit of Rs 3.13 crore in the fourth quarter of last fiscal year. Similarly,Triveni Bikas Bank Limited (TBBL) has decided to distribute 10 percent bonus share and 0.53 percent cash dividend for tax purpose. The 192ndBOD Meeting of the company held on Ashwin 24 has proposed 10 percent bonus share and 0.53 percent cash dividend for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2071/72. The decision is subjected to approval from Nepal Rastra Bank and the Bank’s upcoming Annual General Meeting (AGM). Earlier in the fiscal year 2070/71, Triveni Bikas Bank had distributed 10.75 percent bonus share and 10 percent cash dividend to their shareholders As per unaudited report TBBL had earned net profit of Rs 11.19crore in the fourth quarter oflast fiscal year 2071/72. It’s paid up capital remains at Rs 74crore. After distributing 10 percent bonus share it’s paid up capital will rise to Rs 81.4 crore.