Kumari Bank most likely to offer 37% dividend

ShareSansar, January 16:

Kumari Bank Limited is most likely to propose 37 percent dividend – 25 percent bonus shares and 12 percent cash—to the shareholders from the net profit it posted in the last fiscal year 2069/70, according to sources privy of the development.

“The bank is most likely to pledge 37 percent dividend, including 25 percent bonus shares,” the highly placed reliable source told ShareSansar today. “The BoD would formally make the offer shortly.”

Kumari Bank Limited had posted 5.82 percent growth in profit in the last fiscal year. The bank made profits of Rs 29.15 crore, a slight growth over Rs 27.55 crore reported in the previous fiscal year.
 
The bank’s deposits grew 15.16% to Rs 25.31 arba and its loans and advances increased 11.15% to Rs 20.11 arba.

However, the bank officials refute the “rumor” about the dividend.
“Our BoD has not met formally to pledge any dividend. Hence, we do not know where this news is coming from,” Kumari Bank’s company secretary Narendra Prasad Chhatkuli said.

Asked when the bank is planning to hold its AGM, he said that they were planning to hold it soon, but have not finalized the date yet.