Lumbini Bank announces 11% dividend

KATHMANDU, Nov 24:

Lumbini Bank Limited announced 11 percent dividend to its shareholders. The 17th Annual General Meeting (AGM) of the bank held on November 21 approved the bank´s board of directors´ proposal to distribute 6 percent bonus shares and 5 percent cash dividend.

With the distribution of bonus shares, the bank´s paid-up capital witll reach Rs 2 billion from the existing Rs 1.88 billion, according to a bank statement.

The bank made a net profit of Rs 240 million in 2013/14, an increment by 60.42 percent compared to previous year´s net profit. The bank currently operates with a network of 18 branches.

Source: Republica