NMB announces discouraging stock dividend of 8%; Capital plan had planned for a stock dividend of 28% !!!

NMB Bank Limited has announced stock dividend of 8% from the profit of fiscal year 2071/72. This declared dividend is against the planned stock dividend of 28 % in the bank's capital plan. According to the Mr. Pramod Dahal, company Secretary of NMB bank, "The bank has not included the profit from other merged entities and the surplus from swap ratio. As of now, the profit from the merged entities and the surplus from the swap ratio have been added to the reserve of the bank." Last year the bank had given a stock dividend  of 20% from the profit of fiscal year 2070/71. As per the information received by NEPSE on 2072-08-13 at 3:45 PM from NMB Bank Ltd., the 301st BOD Meeting of the company held on 2072-08-11 has proposed distribution of 8% Stock Dividend(Bonus Shares) and 0.42% Cash Dividend(for Tax Purpose) to their Shareholders which subject to the approval from NRB and its upcoming AGM.