Laxmi Bank now decides to pledge 30% right share, AGM on November 11

ShareSansar, October 16:

 
Here’s couple of great news from Laxmi Bank Limited. The commercial bank, which had announced 25 percent right issue through its last Annual General Meeting, has decided to offer additional 5 percent rights share to the shareholders.

Laxmi Bank has also announced its 14th Annual General Meeting on November 11.

A meeting of the Board of Directors held yesterday took the decision to this effect, while also formally proposing 20 percent bonus share and 1.05 percent cash dividend for tax purpose.

Now that the AGM has also been announced, LBL has become one of the best scrips if you are looking for good dividend quickly.

The price of the scip has surged and it has also witnessed one of the highest turnovers today.

The proposed stock and cash dividend, however, is subject to the approval of the central bank and the upcoming AGM of the commercial bank.