NRN Infrastructure and Development (NRN) Declares First Dividend After Being Public

Fri, Jan 1, 2021 10:50 AM on Dividend, Bonus & Rights, Latest,

NRN Infrastructure and Development Limited (NRN) has declared a 3% dividend for the fiscal year 2076/77.

The meeting of the board of directors held on Poush 16 has decided to distribute 2.85% of the paid-up capital as bonus shares and 0.15% in cash dividend. While the bonus shares are worth 3,22,814 units, the cash dividend worth Rs. 16,99,021 is for tax purposes.

This is the company's first dividend after being public and enlistment in NEPSE. After a successful IPO issue, NRN had made its debut on the Nepalese trading floor on August 26, 2020.

NRN Infrastructure and Development Limited (NRN) has already published its first-quarter report of FY 2077/2078 with an increase in Net Profit by 64.11%. The net profit of the company increased to Rs. 34.94 Lakhs from Rs. 21.29 Lakhs in the corresponding quarter of the previous year.

The company’s paid-up capital stood at Rs. 1.13 Arba and has a reserve and surplus of Rs. 3.92 crores. The company has an investment in associates of Rs. 38.03 crores in Q1 of FY 2077/2078. NRN reported total revenue of Rs. 67.09 Lakhs and an operating profit of Rs. 57.92 Lakhs in this quarter. The company reported an annualized EPS of Rs. 1.23 and net worth per share of Rs. 103.47. The stock traded at a P/E multiple of 283.66 times.

As of writing, the LTP of the company is Rs. 358.