Nerude Laghubitta proposes 25% bonus share, 20% cash

ShareSansar,  September 3:

Nerude Laghubitta Bikas Bank Ltd  has proposed 45 percent dividend – 25 percent bonus share and 20 percent cash dividend to its shareholders from the net profit it earned in the last fiscal year 2070/71.

The dividend proposed by the BoD of the microfinance company yesterday is, however, subject to the approval of Nepal Rastra Bank and upcoming AGM of the company.

According to the unaudited report Nerude had published for the fourth quarter of the last fiscal year 2070/71, its net profit has risen by 41 percent.

With the growth in the business, the profit, reserve and liquidity of the bank also increased in the last year.

The net profit has increased to Rs 6.49 crore in the last fiscal year, up from Rs 4.6 crore in the previous year 2069/70.

The bank mobilized Rs 51.06 crore on deposit and Rs 1.27 arba on loans, up from Rs 38.91 crore on deposit and Rs 94.09 crore on loans on previous year.
 
The bank also set aside Rs 1.23 crore in the fourth quarter as provision for the possible loss.

Non-performing loan (NPL) of the bank, however, grew to 1.3 percent from 0.88 percent in the previous year quarter ending.

The EPS of Nerude stands at Rs 64.95, P/E Ratio at 21.56 times and net worth per share Rs 237.78.