Civil Bank proposes meager 2.88% stock dividend

Civil Bank Limited (CBL) has decided to distribute 2.88 percent stock dividend to its shareholders. As per the notice published in NEPSE today, the BOD meeting held on chaitra 8, 2073 has proposed 2.88 percent stock dividend and 0.1516 percent cash dividend for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2072/73. The decision is subjected to approval from Nepal Rastra Bank and the commercial bank’s upcoming Annual General Meeting (AGM). Last year, CBL had distributed 6.75 percent stock dividend to its shareholders. Recently, Civil Bank has proposed to issue 10:2 (20%) right share to its shareholders. Civil Bank is under process of acquiring Unique Finance Limited and Hama Merchant and Finance Limited. Civil Bank had earned net profit of Rs. 17.14 crore in the second quarter of the current fiscal year 2073/74. Its paid up capital stands at Rs 4.58 arba.