Machhapuchchhre Bank announces 16% stock dividend; Paid up capital will reach Rs 3.64 arba

Machhapuchchhre Bank Limited (MBL) has announced 16 percent bonus share and 0.84 percent cash dividend for tax purpose to its shareholders.

The 298th BOD meeting held yesterday (Poush 13, 2072) has proposed 16 percent bonus share and 0.84 percent cash dividend (tax purpose) to its shareholders from the net profit it earned in the last fiscal year 2071/72.

The decision is subjected to approval from Nepal Rastra Bank and the Bank’s upcoming Annual General Meeting (AGM).

As the 5:1 right issue of MBL has been allotted, the shares of right issue will also be included while distributing the announced bonus shares.

 Last year, MBL had distributed 12% bonus share to its shareholders from the profit it made in 2070/71 FY.

Machhapuchchhre Bank has earned net profit of Rs 17.31 crore in the first quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at 3.14arba and after the issuance of 16% bonus share the paid up capital will rise to Rs 3.64 arba. The paid up will be higher than Rs 3.64 arba after the completion of ongoing merger process with Janata Bank Nepal Ltd.