Kanchan Development Bank announces 25% stock dividend

Kanchan Development Bank Limited (KADBL) has decided to distribute 25 percent bonus share and 1.31 percent cash dividend for tax purpose to its shareholders. The BOD Meeting of the company held on Kartik 8 has proposed 25 percent bonus share 1.31 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, Kanchan Development Bank had distributed 20 percent bonus share to their shareholders KADBL had earned net profit of Rs 4.32 crore in the fourth quarter of last fiscal year 2071/72 unaudited report. It’s paid up capital remains at Rs 13.20 crore. After distributing 25 percent bonus share it’s paid up capital will rise to Rs 16.5 crore.