Innovative & Sewa Bikas Bank declares 21.75 % & 19 % stock dividend; ILFCO Microfinance announces 5% stock dividend

Innovative Development Bank Limited (INDB) has decided to distribute 21.75 percent stock dividend to its shareholders. As per the notice published in NEPSE today, the company’s BOD meeting held on Ashwin 14, 2073 has proposed 21.75 percent bonus share and 1.14 percent cash dividend for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2072/73. The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM). Earlier, INDB had distributed 21% bonus share to its shareholders. Innovative Dev Bank has earned net profit of Rs 6.06 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital remains at Rs 29.05 crore. After adjustment of 21% bonus share distribution, its paid up capital will reach to Rs 35.36 crore. Likewise, Sewa Bikas Bank Limited (SEWA) has declared to distribute 19 percent stock dividend to its shareholders. As per the notice published in NEPSE today, the company’s BOD meeting held on Ashwin 16, 2073 has proposed 19 percent bonus share and 1percent cash dividend (for tax purpose) to its shareholders from the net profit it earned in the last fiscal year 2072/73. The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming AGM. SEWA had distributed 18% bonus share to its shareholders for the FY 2071/72. Sewa Bikas Bank has earned net profit of Rs 10.76 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital remains at Rs 42.55 crore. After 19 % bonus share distribution, its paid up capital will reach to Rs 50.63 crore. Similarly, ILFCO Microfinance Bittiya Sanstha Limited (ILFCM) has announced to distribute 5 percent bonus share to its shareholders. As per the notice published in NEPSE today, the company’s BOD meeting held on Ashwin 16, 2073 has proposed 5 percent bonus share and 0.26 percent cash dividend (for tax purpose) to its shareholders from the net profit it earned in the last fiscal year 2072/73. The decision is subjected to approval from Nepal Rastra Bank and the microfinance company’s upcoming AGM. ILFCM has earned net profit of Rs 37.52 lakh in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital remains at Rs 10 crore. After 5 % bonus share distribution, its paid up capital will reach to Rs 10.5 crore.