CYC Nepal Laghubitta (CYCL) Proposes 30% Bonus Dividend for Fiscal Year 2078/79

CYC Nepal Laghubitta Bittiya Sanstha Limited (CYCL) has proposed a 31.58% dividend worth Rs. 3.84 Crores for the fiscal year 2078/79.

The meeting of the board of directors held on Poush 7 decided to distribute the dividend on the paid-up capital of Rs. 12.16 Crores. 30% bonus shares worth Rs 3.64 Crores and 1.58% cash dividend (tax purposes) worth Rs 19.20 Lakh have been proposed.

The dividend will be distributed only after approval by the central bank and endorsement by the company's upcoming AGM. This is the first dividend of the company as the company had issued Initial Public Offering (IPO) earlier this year. 

As of writing, CYCL has an LTP of Rs 2593.

Also, the Memorandum of Understanding (MoU) agreement has been signed between CYCL and Adhikhola Laghubitta Bittiya Sanstha Limited (AKBSL), where the company has decided to go on a merger with each other.