Deva Bikas Bank declares 14% stock dividend; Paid up to reach Rs 1.44 arba

Deva Bikas Bank Limited (DBBL) has decided to distribute 14 percent stock dividend to its shareholders. As per the notice published in Nepal Stock Exchange (NEPSE) today, the company’s 192^nd BOD meeting held on Mangsir 24, 2073 has proposed 14 percent stock dividend to its shareholders from the net profit it earned in FY 2072/73. The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM). DBBL had distributed 7.69 percent stock dividend to its shareholders from the profit it made in the fiscal year 2071/72. Also the development bank’s Special General Meeting (SGM) had endorsed 50% right share to its shareholders which has been approved by Securities Board of Nepal (SEBON). Right shareholders will not be eligible for the bonus share of the company. Deva Bikas Bank has earned net profit of Rs 5.06 crore in the first quarter of the fiscal year 2073/74 as per unaudited report. It’s paid up capital remains at Rs 88.10 crore. After the issuance of 14 percent bonus share and 50 percent right share the paid up capital will rise to Rs 1.44 arba.