Siddhartha & Excel Dev. Bank declares 24% & 25% bonus share respectively

Siddhartha Development Bank Limited (SDBL) has decided to distribute 24 percent stock dividend to its shareholders. As per the notice published in NEPSE today, the development bank’s BOD meeting held on Ashwin 9, 2073 has proposed 24 percent bonus share to its shareholders from the net profit it earned in the last fiscal year 2072/73. The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM). Earlier, SDBL had distributed 11% bonus share to its shareholders in FY 2071/72. Siddhartha Development Bank has earned net profit of Rs 33.13 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. Its paid up capital remains at Rs 1.14 arba. After distribution of 24% bonus share distribution, its paid up capital will reach to Rs 1.41 arba. Siddhartha Dev. Bank, Ekata Bikash Bank & Nepal Aawas Finance had commenced its joint operation from June 6, 2016 as Siddhartha Development Bank Limited. Similarly, Excel Development Bank Limited (EDBL) has announced to distribute 25 percent stock dividend to its shareholders. As per the notice published in NEPSE today, the company’s BOD meeting held on Ashwin 9, 2073 has proposed 25 percent bonus share and 1.31579 percent cash dividend (for tax purpose) to its shareholders from the net profit it earned in the last fiscal year 2072/73. The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM). Earlier, EDBL had distributed 26 % bonus share to its shareholders in FY 2071/72. Excel Dev Bank has earned net profit of Rs 10.06 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. It’s paid up capital remains at Rs 30.76 crore. After distribution of 25% bonus share distribution, its paid up capital will reach to Rs 38.45 crore.