Miteri Development Bank (MDB) Distributing 15% Bonus Shares to Demat Accounts

Miteri Development Bank Limited (MDB) is distributing 15% bonus shares directly to Demat accounts of its shareholders.

The company had proposed a 15.79% dividend for the fiscal year 2076/77. The 201st meeting of the board of directors held on Mangsir 19 proposed a 15% bonus shares and 0.79% cash dividend from the paid-up capital for the fiscal year 2076/77. The dividend was distributed from the paid-up capital of Rs. 69,33,71,250. Thus, the bonus shares amounting to Rs. 10,40,05,687.50 and cash dividend amounting Rs. 54,73,983.56 was distributed.

The bonus shares are already listed in NEPSE. This means that the shares can be traded from the next trading day after deposition in Demat accounts. The bank has requested investors to dematerialize their shares if they have not done so yet. Furthermore, if investors had taken a loan against shares of the bank till the book closure date, their shares are frozen under the lending institution's account. Such investors will have to make the necessary settlement in order to receive the bonus shares.

While writing this, the company's LTP stands at Rs. 350.

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