Here's How to Get Bonus Shares of Prime Commercial Bank (PCBL), Tax Can Be Paid Via eSewa

After much confusion, Prime Commercial Bank Limited (PCBL) has finally unveiled instructions for shareholders in order to receive the dividend for the fiscal year 2077/78.

Prime Commercial Bank convened its 14th AGM under the leadership of its chairman Mr. Rajendra Das Shrestha on Poush 6, 2078. The AGM endorsed the decision to provide 16% bonus shares worth Rs 257.32 crore and 0.6313% cash dividend to its shareholders for the fiscal year 2077/78.

While the shares have already been listed in NEPSE, shareholders hadn't received the shares on their Demat accounts. This was because the 0.6313% cash dividend proposed was insufficient to pay the dividend tax on the 16% bonus shares.

Issuing a notice today, the bank has informed shareholders that the cash dividend was proposed for the unpaid tax amount for dividends distributed in the previous fiscal years.

Prime Commercial Bank recently acquired Kailash Bikas Bank Limited. Thus, shareholders maintained till 2076, Falgun 28 have received an exemption on the tax amount for dividend proposed for the fiscal year 2077/78. Meanwhile, shareholders who bought the shares only after 2076, Falgun 28 will have to pay the tax amount. These shareholders, along with those who have yet to pay the tax amount on dividend proposed for previous fiscal years can deposit the tax amount via bank or eSewa.

The details of the tax amount to be paid have been kept on Prime Commercial Bank's website or the website of the share registrar Civil Capital.

While paying the tax via bank or eSewa, shareholders should mention the following details:

1) Physical ID or BOID
2) Name of the shareholder
3) Share type (Promoter/ Public)
4) The respective fiscal year for which the tax amount is being paid

For details regarding this, shareholders can contact the bank via the number 01-4423453 or email share@pcbl.com.np.

eSewa will deduct additional transaction charges as usual. Prime Commercial Bank has discouraged the use of other payment portals besides eSewa citing that shareholder details can't be seen via other platforms.

Also in the notice, Prime Commercial Bank has urged shareholders to dematerialize their shares or receive a release letter on their loan against the bank's shares if necessary.

Official Notice