Citizens Bank amends dividend for FY 2076/77; 8% bonus shares to be distributed now

Citizens Bank International Limited (CZBIL) has amended the dividend structure for the fiscal year 2076/77.

The bank had previously proposed an 11% of the paid-up capital as a dividend for the fiscal year 2076/77. 7.7% was proposed as bonus shares and the remaining 3.3% as a cash dividend.

However, compliant with Nepal Rastra Bank's regulation, the bank has now amended its dividend. The bank has now proposed an 8% dividend as bonus shares and 3% as a cash dividend. Note that the total dividend amount has remained the same, with amendment only to the bonus: cash dividend structure. The paid-up capital of the company as of the end of fiscal year 2076/77 is Rs. 9,08,98,17,290.

This dividend will be distributed after endorsement by the bank's upcoming AGM. As of writing, Citizens Bank has the LTP of Rs. 233 per share.