Laxmi Equity Fund (LEMF) Proposes 35% Cash Dividend for FY 2077/78

Thu, Jul 22, 2021 10:19 AM on Dividend, Bonus & Rights, Latest,

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.