Muktinath Bikas Bank & Janauthan Samudayik Laghubitta proposes 34% & 20% bonus share respectively

Muktinath Bikas Bank Limited (MNBBL) has decided to distribute 34 percent bonus share to its shareholders. As per the notice published in Nepse today, the Board of Director (BOD) meeting of the company held on Ashwin 13, 2073  had decided to distribute 34 percent bonus share to its shareholders from the net profit it earned in the last fiscal year 2072/73. The shareholders of 50 % right share of the bank are not eligible for bonus share. The decision is subjected to approval from Nepal Rastra Bank and the development bank’s upcoming Annual General Meeting (AGM). Last year, MNBBL had distributed 31 percent bonus share to its shareholders. Muktinath Bikas Bank will be issuing 2:1 (50%) right shares to its existing shareholders from Ashwin 21, 2073. NIBL Capital Markets Limited has been assigned as the issue manager for the right issue. After the adjustment of 50 percent right share, the bank’s total paid-up capital will reach to Rs 1.25 arba from existing Rs 83.84 crore. After issuance of 34 percent bonus share it’s paid up capital will reach Rs 1.67 arba. Similarly, Janauthhan Samudayik Laghubitta Bikas Bank Limited (JSLBB) has decided to distribute 20 percent bonus share to its shareholders. As per  the notice published in Nepse today, the 94th BOD Meeting of the company held on Ashwin 15, 2073  has proposed distribution of 20% bonus shares and cash dividend worth NPR 2,10,526.32(for Tax Purpose) to their shareholders. The decision is subjected to approval from Nepal Rastra Bank and the microfinance company’s upcoming Annual General Meeting (AGM). JSLBB has earned net profit of Rs 1.23 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at Rs 2 crore and after issuance of 20% bonus share the paid up capital will rise to Rs 2.4 crore.