Kumari Bank declares 11% stock dividend; Paid up capital will reach Rs. 2.69 arba

Kumari Bank Limited (KBL) has announced 11 percent bonus share and 0.58 percent cash dividend for tax purpose to its shareholders. The BOD meeting held yesterday (Magh 3, 2072) has proposed 11 percent bonus share and 0.58 percent cash dividend (tax purpose) to its shareholders from the net profit it earned in the last fiscal year 2071/72. The decision is subjected to approval from Nepal Rastra Bank and the Bank’s upcoming Annual General Meeting (AGM). Last year, KBL had distributed 33% bonus share to its shareholders from the profit it made in 2070/71 FY. Kumari Bank has earned net profit of Rs 4.86 crore in the first quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at 2.43 arba and after the issuance of 11% bonus share the paid up capital will rise to Rs 2.69 arba. Kumari Bank and Nepal Credit and Commerce Bank have signed a memorandum of understanding (MoU) to enter into a merger process.