Kisan Microfinance announces 24% bonus shares for FY 75/76; 1.14% cash dividend for tax purpose

Nepal Stock Exchange Limited (NEPSE) has published a notice regarding dividend decision of Kisan Microfinance Bittiya Sanstha Limited (KMFL).

The BOD meeting of the company has decided that the shareholders of the company will be receiving 24% bonus shares worth Rs.2.06 Crore and 1.14% cash dividend (for tax purposes) worth Rs.9.82 Lakhs out of the profits of FY 75/76.

This decision is subject to approval from NRB after which it will be endorsed in the upcoming AGM of the company.

The microfinance company stated that its net profit increased to Rs.2.21 Crore in the Q4 of fiscal year 2075/76, up from Rs.1.21 Crore in the corresponding period of the previous fiscal year 2074/75.

KMFL is in merger process with microfinance institutes namely Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) and Nagbeli Laghubitta Bikas Bank Limited (NBBL). Recently, NRB has given Letter of Intent of same.