Innovative Dev. Bank declares 27% stock dividend; Paid up to rise to Rs 19.05 crore

Innovative Development Bank Limited (INDB) has decided to distribute 27 percent bonus share and 1.42 percent cash dividend for tax purpose to its shareholders.

The BOD Meeting of the company held on Mangsir 22 has proposed 27 percent bonus share 1.42 percent cash dividend for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2071/72.

The decision is subject to approval from Nepal Rastra Bank and the Bank’s upcoming Annual General Meeting (AGM).

Earlier in the fiscal year 2070/71, Innovative Development Bank had distributed 17.85 percent bonus share to their shareholders,

INDB had earned net profit of Rs. 54.82 lakh in the first quarter of current fiscal year 2072/73 unaudited report. It’s paid up capital remains at Rs. 15 crore. After distributing 27 percent bonus share it’s paid up capital will rise to Rs 19.05 crore.