Sahayogi Vikas Bank proposes 19.3% cash dividend for its shareholders; Paid-up capital at Rs 50.96 crore
Sun, Nov 3, 2019 11:23 AM on Dividend, Bonus & Rights, Latest, Stock Market,
Sahayogi Vikas Bank Limited ( SBBLJ ) has proposed 19.3% cash dividend for its shareholders from the profit of FY 2075/76.
The 287th Board Meeting of the bank held on Kartik 16, 2076 has decided to make this proposal. The dividend distribution is subject to approval from Nepal Rastra Bank (NRB) and the company's Annual General Meeting.
The bank hasn't published its first-quarter report yet, but as of the fourth quarter of 2075/76, its paid-up capital stands at Rs 50.96 crore and had made Rs 12.8 crore net profit for the year.
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).
After the acquisition, the deposits will reach Rs 75.68 arba and the loan and advances will reach Rs 68.48 arba. The paid-up capital CZBIL stands at Rs 8.37 arba and that of SBBLJ stands at Rs 50.96 crore.
Its dividend history is:
