Mega Bank proposes 13.25% bonus & 65% right share; paid up to reach Rs 7.56 arba

Mega Bank Nepal Limited (MEGA) has decided to distribute 13.25 percent bonus and 65 percent right share to its shareholders. As per the notice published in NEPSE today, the BOD meeting held on Mangsir 19, 2073 has proposed 13.25 percent stock and 0.70 percent cash dividend for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2072/73.  Also the bank has decided to issue 65 percent right shares after the issuance of bonus share to their shareholders. The bank had issued 25 percent right share to its shareholders from Shrawan 27, 2073 till, Bhadra 29, 2073.  The right shareholders will also get 13.25 percent bonus share. And only those shareholders who have bought shares prior to the merger of the bank with Paschimanchal Bikas Bank are eligible for 0.70% cash dividend for tax purpose. Since, due to merger tax is waived for those shareholders. The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM). Earlier, MEGA had distributed 10 percent bonus share to its shareholders from the profit it made in the fiscal year 2071/72. Mega Bank has earned net profit of Rs 14.69 crore in the first quarter of the fiscal year 2073/74 as per unaudited report. It’s paid up capital stands at Rs 3.24 arba. After adjustment of 25 percent right share, its paid up capital will reach to Rs 4.05 arba. And after the distribution of 13.25 percent bonus and 65 percent right share, its paid up capital will reach Rs 7.56 arba.