Om Finance to offer 27.07% stock dividend

Om Finance limited has decided to distribute 27.07 percent bonus share and 1.72 percent cash dividend for tax purpose to its shareholders. As per the press release published today, The BOD meeting of finance company has proposed 27.07 percent bonus share and 1.72 cash dividend (tax purpose) to its shareholders from the net profit it earned in the last fiscal year 2071/72. The decision is subjected to approval from the Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM). After the issuance of bonus share the company’s paid up capital will rise to Rs 49 crore 45 lakh and 86 thousand. Last year, Om Finance had distributed 19.50% bonus share to its shareholders. Om finance and City development bank have recently signed a Memorandum of Understanding (MOU) for the merger to form a National level development bank, which will be named Om Development Bank Limited. The finance company has collected Rs 4 arba 80 crore in deposits and its loan and advances stood at Rs 3 arba 94 crore. It has earned Rs 20 crore 17 lakh operating profit said the CEO of Om finance, Buddhi Malla.