Reliance Finance proposes distribution of 2.63% cash dividend for FY 74/75; 12.63% dividend of FY 73/74 not yet endorsed

Nepal Stock Exchange (NEPSE) has published a notice informing the investors regarding the dividend decision of Reliance Finance Limited (RLFL).

The 222^nd BOD meeting of the company, held on 26^th Falgun 2075, decided to distribute 2.63% cash dividend worth Rs.2.19 Crore from the profits of FY 74/75. The shareholders will be eligible to receive 2.50% cash dividend worth Rs.2.08 Crore while the remaining 0.13% worth Rs.10.95 Lakhs will be used for tax purposes.

This decision is subject to approval from the upcoming AGM of the finance company.

The finance company had proposed issue of 12% bonus shares and 0.63% cash dividend (for tax purposes) from the profits of FY 73/74 which is yet to be distributed since the company hadn’t conducted the AGM for that year. It is expected that the company will be endorsing proposed dividend for both the years in the upcoming AGM.