Nepal Rastra Bank approves dividend distribution of Chhimek Laghubitta; 40% dividend to be endorsed in the upcoming AGM of the company

Nepal Stock Exchange Limited (NEPSE) has published a circular regarding the approval received by Chhimek Laghubitta Bittiya Sanstha (CBBL), to distribute proposed dividend, from Nepal Rastra Bank (NRB).

The microfinance company has proposed distribution of 18% bonus shares and 22% cash dividends from the profits of FY 74/75. However, the decision to distribute dividends was not approved by the NRB as per the letter received on 19^th Poush, 2075.

Why had CBBL's dividend been disapproved?

After making the necessary amendments and changes, the company reapplied for approval from NRB. As per the letter received on 5^th Baisakh, 2076, the NRB has approved the dividend distribution of the company. The dividend will be distributed by the company after endorsing it in the upcoming AGM of the company.

After the adjustment of bonus shares, the company’s paid-up capital will reach Rs.1.18 Arba. For FY 73/74 the microfinance company had distributed 19.89% bonus shares and 25.11% cash dividend.