Mega Bank clarifies on minimal bonus proposal of 1 %

Mega Bank has clarified the reason for proposing 1 % bonus share and 6.85% cash dividend for its shareholders from the net profit in the previous fiscal year. despite having an increment in net profit by double figure, the bank was forced to propose minimal bonus shares because of NFRSs’ requirements to move the fund to reserve and other fund categories.

Thus, the fund available to be issued as dividend stands at Rs 70.65 crore for cash dividend purpose and Rs 10.30 crore for bonus share purpose.

After the issuance of bonus shares, the paid up capital of the bank will surge to Rs 10.38 arba. Thre proposed dividend has already been approved by Nepal Rastra Bank and will also be endorsed by the AGM which is due on Poush 30, 2075, as mentiond in the press statement.