Kankai Bikas Bank announces 20% bonus & 214% right share; Paid up to reach Rs 47.1 crore

Kankai Bikas Bank Limited (KNBL) has decided to distribute 20 percent bonus and 1:2.14 (214%) ratioright share to its shareholders. As per the notice published in Nepal Stock Exchange (NEPSE) today, the company’s BOD meeting held on Mangsir 1, 2073 has proposed 20 percent bonus along with cash dividend worth Rs 13,15,789 for tax purpose and 214 percent right share to its shareholders from the net profit it earned in the last fiscal year 2072/73. The right share will be issued after the distribution of the declared bonus by the company. The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM) which is going to be held on Mangsir 25, 2073. Earlier, KNBL had distributed 25 percent bonus share to its shareholders in the fiscal year 2071/72. Kankai Development Bank has earned net profit of Rs 89.13 lakh in the first quarter of the current fiscal year 2073/74. It’s paid up capital remains at Rs 12.50 crore. After distributing 20 percent bonus share, it’s paid up will reach to Rs 15 crore. Likewise, after issuance of 214 percent right share, its paid up capital will reach to Rs 47.1 crore.