Shine Resunga Development bank proposes 15% bonus from the profit of FY 2075/76; Capital to reach Rs 3.01 arba after bonus

Shine Resunga Development Bank Limited (SHINE) has proposed 15% bonus shares to its shareholders from the profit of FY 2075/76.

The 214th Board meeting of the development bank held on Chaitra 1, 2076 had come to this decision. The breakdown of proposed dividend is as follows:

Paid-up capital: Rs 2.62 arba
Bonus share: 15% worth Rs 39.34 crore
Cash Dividend: 0
Total: 15% worth Rs 39.34 crore

As per Income Tax Act, 2058 any dividend is subject to tax exemption for 2 years. So all the shareholders who hold companies share before merger are not required to pay any tax and those shareholders who bought shares after merger till book closure is liable to pay tax to receive bonus shares.

The proposal is subject to approval from Nepal Rastra Bank and the upcoming AGM of the bank. Post the adjustment of bonus shares, the paid-up capital of the development bank will reach Rs 3.01 arba.

The dividend history of SHINE is as follows: