Nepal Agro Laghubitta proposes 15% bonus instead of 15% cash dividend after NRB's review; Proposal sent to NRB for approval

Nepal Agro Laghubitta Bittitya Sanstha (NAGRO) had proposed 15% cash dividend worth Rs 74 lakh 66 thousand 670 along with additional Rs 3 lakh 93 thousand 245 for tax purpose from its 47th Board meeting held on Shrawan 32, 2076. However, the proposal was subject to approval from Nepal Rastra bank (NRB) and the Annual General Meeting (AGM).

Upon the submission of its financial reports for approval of cash dividend, NRB communicated to NEGRO about its capital adequacy because of which the microfinance won't be able to distribute 15% cash dividend. However, they are able to distribute bonus.

Therefore the 48th Board meeting of the microfinance held on Bhadra 31, 2076 has proposed 15% bonus shares along with Rs 3.93 lakh as cash dividend for tax purposes. The proposal is submitted for approval to NRB, and once it is it approved the proposal will be presented in the upcoming AGM.