Nepal Infrastructure Bank Limited (NIFRA) has revised its dividend proposal.
The company had previously proposed an 8.5% cash dividend for the fiscal year 2077/78. The meeting of the board of directors held on Ashwin 04 had decided to distribute the cash dividend from the paid-up capital of Rs. 20 Arba.
However, Nepal Rastra Bank instructed the company to revise its dividend proposal, since it did not comply with the central bank's directive regarding dividend distribution. As such, NIFRA has now proposed an 8% bonus share worth Rs. 1.60 Arba and cash dividend for tax purposes worth slightly over Rs. 8.42 crores.
As of writing, NIFRA has an LTP of Rs. 344.