The 68th meeting of the board held on Shrawan 07 has proposed a 35% cash dividend for Laxmi Equity Fund for the fiscal year 2077/78.
LEMF is a closed-end, equity-oriented mutual fund scheme with a maturity period of 7 years. The fund is promoted by Laxmi Bank and managed by Laxmi Capital Market Limited.
LEMF had distributed a 4.25% cash dividend for the fiscal year 2076/77.
Laxmi Unnati Kosh, another mutual fund managed by Laxmi Capital had declared a 25% cash dividend before the last trading day. Both the funds had then gained 10% in the last trading session, which is the highest permissible intraday gain for a scrip.
The fund had reported a net profit of a little over Rs. 65.74 crores till Jestha. In the month of Baisakh, the profit was Rs. 56.07 crores.