Everest Bank announces 30% stock dividend & 6.58% cash dividend

Everest Bank Limited (EBL) announces 30% stock dividend and 6.58% cash dividend for its shareholders from the profit earned in the last fiscal year. BOD meeting of the bank held on Ashwin 28 has decided to propose 30% stock dividend and 6.58% cash dividend to its shareholders which subject to the approval of NRB and its upcoming AGM. At Present the bank has a paid up capital of Rs 2.13 arba whereas after the issuance of bonus share its paid up capital will reach to Rs 2.77 arba. The bank has posted a net profit of Rs 1.57 arba in the fourth quarter of the last fiscal year. The bank had provided 62.63 percent of dividend-which included 12 percent bonus shares and 50.63 percent cash dividend- to its shareholders from the net profit earned in the fiscal year 2070/71. The bank had distributed 60 percent dividend (10 percent bonus share and 50 percent cash) in the fiscal year 2069/70.