Mega Bank amends previous dividend; proposes 10.75% bonus share on current paid up capital

Mega Bank Nepal Ltd. (MEGA) has informed NEPSE about the amendment in dividend to their shareholders today.

According to the notice published in NEPSE today, the amendment has been made in the previously declared dividends decided by the separate Board of Directors’ Meetings of Mega Bank Nepal Limited and former Tourism Development Bank Limited.

Since the banks have completed the process of merger and acquisition, the 221^st Board Meeting conducted on Jestha 29, 2075 have decided to endorse the dividend amounting Rs 99,86,95,153.12 (i.e. Rs 99.86 crore) which is 10.7539% of the total current paid-up capital. The dividend amount includes the proposed 9.5% bonus shares of MEGA amounting Rs 69.71 crore and former TDBL (15% bonus share) amounting Rs 30.15 crore. The total paid up capital (post bonus share) of Mega bank will be Rs 10.28 arba, one of the highest in the industry, only behind Nepal Investment Bank which has Rs 10.74 arba as paid up capital.

However, the decision of the Board is yet to be endorsed in the AGM of the company.