Ngadi Group Power proposes 10% bonus & 30% right shares; Deva Bikas Bank declares 17.1% bonus share

Ngadi Group Power Limited (NGPL) has announced 10 percent bonus shares and 0.53 percent cash dividend for tax purpose to its shareholders. Also, the same meeting has decided to issue 30 percent right share after the bonus share issuance. As per the notice published in Nepal Stock Exchange, the BOD meeting held today ( Bhadra 12, 2074) proposed 10 percent bonus share and 0.53 percent cash dividend for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2073/74 and also the company has decided to issue 30% right shares. The decision is subjected to approval from its upcoming Annual General Meeting (AGM). Last year, NGPL had distributed 5% cash dividend to its shareholders from the profit it made in 2072/73 FY. Ngadi Power has earned net profit of Rs 4.06 crore in the fourth quarter of the FY 2073/74. The hydropower company’s paid up capital stood at Rs 48.68 crore, after issuance of 10% bonus and 30% right shares its paid up capital will reach Rs 69.62 crore. Siluri Hydropower Company, promoter of Ngadi Group Power Limited (NGPL) is going to build a 40.27 MW Super Nyadi Hydropower Project along the Nyadi river in Lamjung district. Likewise, Deva Bikas Bank Limited (DBBL) has proposed 17.1 percent bonus shares and 0.9 percent cash dividend for tax purpose to its shareholders. As per the notice published in Nepal Stock Exchange, the BOD meeting held on Bhadra 11, 2074 has proposed 10 percent bonus share and 0.53 percent cash dividend for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2073/74. The decision is subjected to approval from Nepal Rastra Bank and the development bank’s upcoming Annual General Meeting (AGM). Last year, DBBL had distributed 14% bonus share to its shareholders from the profit it made in 2072/73 FY. Deva Bikas Bank has earned net profit of Rs 28.94 crore in the fourth quarter of the FY 2073/74. Its paid up capital currently stand at Rs 1.44 arba and after issuance of 17.1% bonus share its capital will reach Rs 1.69 arba. Recently, DBBL has signed an agreement to acquire Sarlahi-based Sahara Bikas Bank Limited (SHBL). With this acquisition, Deva Bikas Bank is now acquiring a total of 3 BFIs. Deva Bikas Bank is also under process for acquiring Union Finance and Sajha Bikas Bank. After acquiring Union and Sajha, Deva Bikas Bank, as a national-level development bank, should increase its paid up capital to Rs 2.50 arba by the end of FY 2073/74.