Garima Bikas Bank (GBBL) Proposes 16% Bonus Shares for FY 2077/78

Garima Bikas Bank Limited (GBBL) has proposed a 16% dividend for the fiscal year 2077/78. This dividend has been proposed from the retained earnings and share premium of both Garima Bikas Bank and Sahara Bikas Bank.

The 270th meeting of the board of directors held on Poush 22 decided to distribute the entirety of the dividend in bonus shares from the paid-up capital of Rs. 3,94,81,83,105.08. Thus, the bonus shares are worth Rs. 63,17,09,296.81.

Shareholders maintained before joint operation after the acquisition of Sahara Bikas Bank Limited have received tax exemption on bonus shares. Meanwhile, those who bought the shares after the commencement of joint operation (28th Kartik, 2078) will have to manually pay the tax on bonus shares.

The dividend will be distributed only after approval by the central bank and endorsement by the company's upcoming 15th AGM.

Official Notice in NEPSE