Excel Development Bank Limited (EDBL) has proposed a 8.95% dividend for the fiscal year 2077/78.
The 274th meeting of the board of directors held on Jestha 30 decided to distribute the dividend on the paid-up capital of Rs. 1.15 Arba. 8.50% bonus shares worth slightly over Rs. 9.79 crores and 0.3% cash dividend (including tax) worth Rs. 51.52 lakh have been proposed.
The dividend will be distributed only after approval by the central bank and endorsement by the company's upcoming AGM. As of writing, EDBL has an LTP of Rs. 360.