Infinity Laghubitta (ILBS) Declares 20% Bonus Shares for FY 2078/79; Decision Subject to Approval from NRB

Infinity Laghubitta Bittiya Sanstha Limited (ILBS) has proposed a 20% bonus share for FY 2078/79

As per the notice published in NEPSE, the company has proposed 20% bonus shares for the fiscal year 2078/79. The board of directors meeting on Poush 30 decided to distribute 20% bonus shares worth Rs. 8,29,02,656.95 from its paid-up capital. The current paid-up capital of the company is Rs. 41.45 crores.

ILBS successfully acquired Nepal Agro Laghubitta in FY 2078/79 and started the joint operation. In accordance with the Income Tax Act 1958, the tax deduction benefit that is relevant to the distribution of bonus shares will be applied, although the cash dividend is not exempted for tax purposes.

The dividend distribution is subject to approval from Nepal Rastra Bank and the upcoming AGM of the company. ILBS closed at Rs. 958 on the last trading day last week.

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