Business Universal Development Bank proposes 11% bonus share
Sun, Oct 12, 2014 12:00 AM on Dividend, Bonus & Rights,
ShareSansar, October 12:
Business Universal Development Bank has proposed 11 percent bonus share and 0.58% Cash Dividend for tax purpose to their shareholders for the last fiscal year 2070/71.
A meeting of the Board of Directors of the development bank had taken the decision to this effect on Friday, and notified Nepse this afternoon.
The pledged dividend is, however, subject to the approval of the central bank and the upcoming AGM of the development bank.
It may be noted that Business Universal had reported impressive rise in net profit of 767.53 percent in the last fiscal year.
According to the unaudited financial report for the fourth quarter, the development bank has stated that its net profit rose to Rs 5 crore from Rs 57.69 lakh at the end of the previous fiscal year 2069/70.
Its core business is responsible for the profit. The net interest income surged to Rs 24.38 crore up from Rs 21.80 crore.
The development bank mobilized Rs 4.89 arba in deposit and Rs 4.27 arba in loan by the fourth quarter as compared to Rs 4.05 arba in deposit and Rs 3.67 arba in loan at the end of the corresponding quarter.
