Bagmati Dev Bank declares 14% stock dividend

Bagmati Development Bank Limited (BGDBL) has announced 14% bonus share and 0.74% cash dividend to its shareholders. The development bank’s 122^nd BOD meeting held on Bhadra 7, 2073 had decided to distribute 14 percent stock dividend to its shareholders for the fiscal year 2072/73. The decision is subjected to the approval from Nepal Rastra Bank and its upcoming AGM. In the FY 2071/72, BGDBL had distributed 15 percent bonus share to its shareholders. The development bank earned net profit of Rs 1.02 crore in the fourth quarter of the FY 2072/73.The development bank has paid up capital of Rs 5.75 crore. After distribution of 14% bonus share, its paid up capital will reach to Rs 6.55 crore. Bagmati Development  Bank trading has been suspended in Nepal Stock Exchange Limited (NEPSE) due to the acquisition process with Sanima Bank Limited (SANIMA).