Standard Chartered bank announces 15% stock & 27.11% cash dividend; Below investors expectation

Standard Chartered Bank Limited (SCB) has decided to distribute 15 percent bonus share and 27.11 percent cash dividend including for tax purpose to its shareholders. The 337^thBOD Meeting of the company held on Mangsir 21 has proposed 15 percent bonus share and 27.11 percent cash dividend including for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2071/72. The decision is subject to approval from Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM). In the previous fiscal year 2070/71, Standard Chartered had distributed percent 10 percent bonus share and 41.50 percent cash dividend to their shareholders SCB had earned net profit of Rs. 34.52 crore in the first quarter of current fiscal year 2072/73 unaudited report. It’s paid up capital remains at Rs. 2.24 arba . After distributing 15 percent bonus share it’s paid up capital will rise to Rs. 2.57 arba.