Mega Bank starts distributing cash dividend warrants

ShareSansar, January 15:

Mega Bank Nepal Limited has started distributing cash dividend warrants to the shareholders from the net profit it earned in the last fiscal year 2069/70.

Mega Bank's third Annual General Meeting held on January 13 had formally endorsed 9 percent cash dividend to the shareholders from the net profit it earned in the last fiscal year.

The shareholders can collect the dividend warrants from the bank’s RTS, Nabil Investment Banking Limited at Narayanchaur, Naxal from 10:00 AM to 3:00 PM from Sunday through Thursday and from 10:00 AM to 1:30 PM on Fridays.

Incepted less than two years ago, Mega Bank had posted an impressive net profit of Rs.17.73 in the last fiscal year.

Mega Bank Nepal Limited had gone on to post an astounding 291 percent growth in net profit in the first quarter of the current fiscal year 2070/71.

Its net profit has surged to Rs 10.18 crore from Rs 2.60 crore in the corresponding quarter of the last fiscal year.

The profit was largely propelled by its core business as shown by its net interest income, which rose to Rs 19.54 crore in the first quarter, up from Rs 1.39 crore in the corresponding quarter.

Its EPS annualized stand at Rs 16.98 and per share net worth at Rs 118.61.