Due to Violation of NRB's Guideline, 15% Dividend of RULB Canceled

The dividend proposal of Rastra Utthan Laghubitta Bittiya Sanstha Limited (RULB) has been canceled by Nepal Rastra Bank.

From the 86th meeting of the board of directors held on Baisakh 13, the company decided to distribute a 15% dividend for FY 2078/79 from the paid-up capital of Rs. 26 Crores. 14.25% bonus shares worth Rs. 3.7 crores and 0.75% cash dividend worth Rs 19.50 lakhs were proposed.

According to a notice from the Nepal Stock Exchange (NEPSE), the aforementioned dividend proposal required NRB approval, which has been canceled as the financial statement was not in accordance with the Nepal Financial Reporting Standards (NFRS).

In addition, a letter regarding the company's annual general meeting was sent to NRB on Baisakh 20; however, the proposed dividend was not included in the letter. Consequently, the dividend proposal has been rejected.