Citizens Bank declares 24.49% Stock Dividend; Paid up capital to reach Rs 5.50 arba;Right & auction shareholders not eligible for bonus share

Citizens Bank International Limited (CZBIL) announces 24.49 percent bonus share to its shareholders. As per the press release published by the bank today, the 214th BOD meeting of company held today (Bhadra 13, 2073) has proposed 25.78 percent (24.49% bonus and 1.29% cash dividend for tax purpose) to their shareholders from the net profit it earned in the last fiscal year 2072/2073. The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM). Last year, CZBIL had distributed 20% bonus share and issued 55% right share to its shareholders. Citizens Bank had earned net profit of Rs 1.10 arba in the fourth quarter of the fiscal year 2072/73 as per unaudited report. Its paid up capital before 55% right share stood Rs 3.06 arba and after calculating right share the paid up capital will reach to Rs 4.75 arba. The bank has announced to distribute 24.49% bonus share before adjusting 55% issued right shares.  The total paid up capital of the bank after right and bonus will reach to Rs 5.50 arba. The bank has collected deposits of Rs 47.39 arba and has extended loan and advances of Rs 11.36 arba in the last fiscal year 2072/73.