Mirmire Laghubitta (MMFDB) Reduces Dividend for FY 2076/77

Wed, Jan 13, 2021 11:08 AM on Latest, Dividend, Bonus & Rights,

Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) has amended its dividend proposal.

Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) had previously proposed a 12.63% dividend for the fiscal year 2076/77. The 194th meeting of the board of directors held on Kartik 26 had decided to distribute 12% bonus shares and 0.63% cash dividend (for tax purposes) from the paid-up capital. Since the paid-up capital of the company is Rs. 39,61,46,641.50, the bonus shares amounted to Rs. 4,75,37,646 and the cash dividend amounted to Rs. 24,96,649.

However, when the company submitted the proposal to Nepal Rastra Bank, the central bank instructed to amend the dividend proposal. Now, the company has proposed a 9.2% bonus shares and 0.48% cash dividend. Thus, only a 9.68% total dividend is now proposed.

Mirmire Laghubitta has already published its first-quarter report of FY 2077/2078 with a slight increase in Net Profit by 1.73%. As per the report published by the company, the net profit increased to Rs. 2.17 crores as compared to Rs. 2.13 crores in the corresponding quarter of the previous year. As of writing, the company's last trading day closing price stands at Rs. 1,421 per share.