Axis Development Bank issuing cash dividend warrant from today

ShareSansar, November 10:

Axis Development Bank Limited is issuing cash dividend warrant to the shareholders from today.

The 10th AGM of the bank held at Dhulikhel, Kavrepalanchowk on November 7 had approved of 7.37 percent cash dividend to its shareholders from the net profit it registered in the last fiscal year 2069/70.

The cash dividend warrants can be collected from the bank’s share registrar Growmore Merchant Banker Limited at Durbarmarg from 10 AM to 2:30 PM from Sunday to Thursday and from 10 AM to 1 PM on Friday.

The development bank is distributing the dividend despite a significant loss in the last fiscal year.

The bank’s profit fell to Rs 2.03 crore from Rs 5.75 crore reported in previous fiscal year, a slide of 64.6 percent.

The bank’s deposits had, however, increased by 51.47 percent to Rs 1.57 arba and loans and advances grew by 54.11 percent.