First Microfinance declares 15% stock dividend; Paid up capital to reach Rs 45.49 crore

First Microfinance Development Bank Limited (FMDBL) has proposed 15.79 percent dividend to its shareholders from the profit it made in FY 2073/74. As per a notice published in Nepal Stock Exchange Limited (NEPSE) today, the BOD meeting of the company held on Shrawan 29 has decided to propose 15% stock dividend and 0.79% cash for tax purpose to its shareholders. However, the decision is subjected to approval from Nepal Rastra Bank (NRB) and its upcoming Annual General Meeting (AGM). Last year, First Microfinance had distributed 15.79 percent stock dividend to its shareholders from the net profit it earned in the FY 2072/73. FMDBL had also issued 50% right shares to its shareholders. FMDBL has earned net profit of Rs 8.02 crore in the fourth quarter of the last FY 2073/74. Its current paid up capital stands at Rs 39.55 crore and after issuance of 15% bonus share its capital will reach Rs 45.49 crore.  As per its capital plan, FMDBL will again issue 50% right share, after which its paid up capital will reach Rs 68.23 crore.