Reliance Finance proposes 12.63% dividend; minimum capital requirement to be met after 12% bonus distribution
Thu, Jun 14, 2018 10:12 AM on Dividend, Bonus & Rights, Latest, Stock Market,
Reliance Finance Ltd. (RLFL) has informed NEPSE on regarding the dividend to their shareholders today.
According to the notice published in NEPSE today, the 193rd Board Meeting conducted on Jestha 31, 2075 (today) have decided to endorse the 12.63% dividend to its shareholders. This includes bonus shares amounting Rs 8, 91, 87,435.36(i.e. Rs 8.91crore) which is 12% of the total current paid-up capital (Rs 74.32 crore including 45% right shares) and cash dividend of 0.63%.
The decision of the Board is has been approved by NRB. However, it is yet to be approved by the AGM of the company.
Its paid-up capital will reach Rs 83.24 crore from existing Rs 51.25 crore after the adjustment of 45% right shares and 12% bonus shares. Hence, it will meet the capital requirement of Rs 80 crore.
It had earned Rs 1.74 crore at the end of third quarter of ongoing fiscal year 2074/75. Its last traded price stood at Rs 125 as of yesterday.
