Kankai Bikas Bank announces 6.15% bonus share; Paid up capital to reach Rs 50 crore

Kankai Bikas Bank Limited (KNBL) has decided to distribute 6.15 percent bonus share to its shareholders. As per the notice published in NEPSE today, the 256^th  BOD meeting of the development bank held on Mangsir 12, 2074 has proposed 6.154  percent bonus share worth Rs 2.90 crore and 0.322 percent cash dividend for tax purpose worth Rs 15,26,316 to its shareholders from the net profit it earned in the last fiscal year 2073/74. The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM). Last year, KNBL had distributed 20% bonus share to its shareholders. KNBL has earned net profit of Rs 34.66 lakh in the first quarter of the FY 2074/75. Its paid up capital after issuance of 214% right shares has reached Rs 47.10 crore and after issuance of 6.15% bonus share, its capital will reach Rs 50 crore. As 1-3 district level development bank, KNBL will meet the capital requirement of Rs 50 crore.