National Microfinance (NMFBS) Distributes 5% Cash Dividend to Bank Accounts

National Microfinance Laghubitta Bittiya Sanstha Limited (NMFBS) has distributed a 5% cash dividend directly to bank accounts and urged its shareholders to dematerialize their shares.

The 8th AGM of the company held on 6th Magh, 2078 endorsed a 45% dividend for the fiscal year 2077/78. The meeting of the board of directors held on Mangsir 01 decided to distribute the dividend on the paid-up capital of Rs. 41.90 crores. 40% bonus shares and 5% cash dividend (tax purposes) was proposed. Thus, the bonus shares are worth a little over Rs. 16.76 crores and the cash dividend is worth a little over Rs. 2.09 crores.

Poush 27 was the book closure date. Thus, unitholders maintained before that day are entitled to the dividend payout.

For those who have not authenticated their bank account in their Demat accounts and for those who have not dematerialized their shares, the cash dividend will be distributed only after they complete the necessary procedure. Furthermore, investors who have taken margin loans against the shares are required to present a No Objection Letter or a Release Letter, depending on when they took the loan.

As of writing, NMFBS has an LTP of Rs. 2,385.