Mount Makalu declares 30% stock dividend; paid up capital will rise to Rs 2.6 cr

Mount Makalu Development Bank Limited (MMDBL) has proposed 30% bonus shares and 1.5 % cash dividend for tax purpose. The 96th BOD Meeting of the company held on Ashwin 13 has proposed distribution of 30% Stock Dividend(Bonus Shares) and 1.5 Cash Dividend (for Tax Purpose) to its Shareholders from the net profit it earned in the last fiscal year 2071/72. The decision is subject to approval from the Nepal Rastra Bank and the Bank’s upcoming Annual General Meeting (AGM). Mount Makalu has earned net profit of Rs 39.87 lakhs in the fourth quarter of last fiscal year 2071/72 as per unaudited report. It’s paid up capital remains at Rs 2 crore. After the issuance of 30% bonus share its paid up capital will stood at Rs 2.6 crore.