Fewa Bikas Bank announces 20.60% stock dividend; Paid up to reach Rs 1.19 arba

Fewa Bikas Bank Limited (FBBL) has decided to distribute 20.60 percent stock dividend to its shareholders. As per the notice published in Nepal Stock Exchange (NEPSE) today, the company’s meeting BOD held on Kartik 19, 2073 has proposed 20.60 percent bonus share to its shareholders from the net profit it earned in the last fiscal year 2072/73. The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM). FBBL had distributed 21.9 % bonus share to its shareholders in the fiscal year 2071/72. FBBL has earned net profit of Rs 6.22 crore in the first quarter of fiscal year 2073/74. It’s paid up capital remains at Rs 99.50 crore. After issuance of 20.60 percent bonus share, the paid up capital will reach Rs 1.19 arba. Fewa and Gandaki Bikas Bank had signed an agreement for the merger process. Trading of both banks has been suspended in Nepal Stock Exchange Limited (NEPSE).