Reliable Microfinance declares 20% bonus shares

Reliable Microfinance Bittya Sanstha Limited (RMFL) has decided to distribute 20 percent bonus dividend to its shareholders. As per the notice published in NEPSE today, the 64^th BOD meeting of the company held on Shrawan 22, 2074 has proposed 20 percent bonus shares and Rs 594737 (for tax purpose) to its shareholders from the net profit it earned in the last fiscal year 2073/74. Above decision is subjected to approval from Nepal Rastra Bank (NRB) and its upcoming Annual General Meeting (AGM). Last year, Reliable Microfinance had distributed 20% cash dividends to its shareholders from the net profit it earned in the FY 2072/73 and the finance company has been issuing 50% right shares from Ashad 25. Reliable Microfinance has earned net profit of Rs 1.12 crore in the fourth quarter of the fiscal year 2073/74 as per unaudited report. It’s paid up capital remains at Rs 5.65 crore. After adjustment of 50 % right share its paid capital will rise to Rs 8.47 crore.