Kumari Bank proposes 8.50% bonus shares; Paid-up capital to reach Rs 8.68 arba after adjustment

Thu, Jan 10, 2019 10:39 AM on Dividend, Bonus & Rights, Featured, Stock Market,
Kumari Ban...

Kumari Bank Limited (KBL) has proposed 8.5% bonus shares for the FY 2074/75.

As per the notice published in NEPSE, the commercial bank has proposed 8.5% bonus shares of worth Rs 60.88 crore on existing Rs 7.1633 arba paid up capital for its shareholders.

The decision of the bank is subject to approval from Nepal Rastra Bank and upcoming AGM of the bank.

After the adjustment of the bonus shares, the paid-up capital of the bank will reach Rs 8.68 arba. Earlier on 3rd December, 2018 the bank had proposed 12.75% bonus shares from the profit of 2073/74 FY of worth Rs 91.32 crore on its existing paid up capital of Rs 7.1633 arba. 

Both 12.75% and 8.5% bonus share of 2073/74 and 2074/75 FY book closure and AGM yet to happen. The LTP of KBL stand Rs 245 in the secondary market. 

The adjusted price of both fiscal year bonus share on current market price would be Rs 206 per share. 

For the FY 2072/73, the bank had distributed 21% bonus shares and 1.10% cash dividend for tax purpose.