Sahayogi Bikas Bank to distribute 18.72% cash dividend for FY 75/76; decision to be endorsed in upcoming AGM

Tue, Feb 25, 2020 5:04 PM on Dividend, Bonus & Rights, Latest, NEPSE News,
Sahayogi B...

Nepal Stock Exchange Limited (NEPSE) has published a notice regarding dividend decision of Sahayogi Bikas Bank Limited (SBBLJ).

The 278th BOD meeting of the development bank had decided to distribute 19.3% cash dividend for the shareholders out of the profits of FY 75/76. However, the received approval from the NRB to issue 18.7215% cash dividend (including tax) worth Rs.9.54 Crore.

The dividend will be distributed after the decision is endorsed by the upcoming AGM of the company.

SBBLJ is in the process of being acquired by Citizens Bank International (CZBIL). The preliminary SWAP ratio stands at 1:0.9 which means SBBLJ shareholders will be getting Rs.90 per share after the acquisition. However, the ratio may differ based on Due Diligence Report (DDA).