National Microfinance Laghubitta Revises Dividend Rates From 34.45% to 15% for the Fiscal Year 2078/79

National Microfinance Laghubitta Bittiya Sanstha Limited (NMFBS) has amended the bonus dividend from previous 34.45% to 15% for the Fiscal Year 2078/79.

The 141st meeting of the board of directors held on Magh 9 had proposed a 38.5% bonus from the paid-up capital for the fiscal year 2078/79. However, this dividend rate was amended to 34.45% as per the direction of NRB to amend the dividend rates.

According to the decision of the 143rd meeting of the Board of Directors held at Falgun 18, the company amended the dividend rate to 34.45% after approval from Nepal Rastra Bank

Now, in accordance with the letter received from Nepal Rastra Bank dated Chaitra 8, 2079 and the instructions given regarding the approval to publish the financial statement for the purpose, the directors of NMFBS held a meeting on Sunday, Chaitra 12, 2079 to amend the dividend rates to 15% as per the instructions of Nepal Rastra Bank. Now the bonus dividends are worth Rs. 8.80 Crores which is 15% of paid-up capital of the company. The paid-up capital of the company is Rs.  58.66 Crores.

National Microfinance Laghubitta Bittiya Sanstha Limited acquired Mahila Sahayatra Laghubitta, and the joint transaction started from 30th Ashar, 2078. In that regard, no separate amount has been set aside for dividend tax purpose because shareholders who were held before that date are eligible for a tax exemption on dividends for two years from the date of receipt. Hence, shareholders who purchased shares after that date will have to pay the dividend tax themselves.

National Microfinance Laghubitta and Summit Laghubitta Bittiya Sanstha Limited (SMFDB) also signed a Memorandum of Understanding (MoU) for the merger on Ashwin 26, 2079.

For the merger between NMFBS and SMFDB, the share swap ratio of 100:82 has been fixed i.e., for every 100 units of Summit’s shares, the shareholders will get 82-unit shares of National Micro finance.