Kanchan Dev Bank declares 25% stock dividend; paid up capital to reach Rs 24.75 crore

Kanchan Development Bank Limited (KADBL) has decided to distribute 25 percent stock dividend to its shareholders. As per the notice published in NEPSE, the development bank’s 105^th BOD meeting held on Ashwin 19, 2073 had proposed 25 percent bonus share and 1.3158 percent cash dividend 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, the company had distributed 25% stock dividend for the FY 2071/72. KADBL has earned net profit of Rs 6.20 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital remains at Rs 19.80 crore. After distribution of 25% bonus share it’s paid up capital will reach to Rs 24.75 crore.