Deva Bikas Bank declares 7.69% stock dividend; Paid up capital to reach Rs 88.09 crore

Deva Bikas Bank Limited (DEVA) has decided to distribute 7.69 percent bonus share and 0.405 percent cash dividend for tax purpose to its shareholders. The 169^thBOD Meeting of the company held on Mangsir 22 has proposed 7.69 percent bonus share 0.405 percent cash dividend for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2071/72. The decision is subject to approval from Nepal Rastra Bank and the Bank’s upcoming Annual General Meeting (AGM). DEVA had earned net profit of Rs. 3.91 crore in the first quarter of current fiscal year 2072/73 unaudited report. It’s paid up capital remains at Rs. 81.80crore. After distributing 7.69 percent bonus share it’s paid up capital will rise to Rs 88.09crore. Rising Development Bank (RDBL) and NDEP Development Bank (NDEP) had undergone 1:1 ratio merger process to form Deva Bikas Bank which has started joint operation from Ashad 25, 2072.