Standard Chartered Bank announces 33.33 percent bonus share; FPO shares in pipeline

Standard Chartered Bank Limited (SCB) has decided to distribute 33.33 percent stock dividend to its shareholders. As per the notice published by the commercial bank today, the company’s 347^th BOD meeting has proposed 33.33 percent bonus share and 1.75 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). SCB had distributed 25% bonus share to its shareholders in the fiscal year 2071/72. Also the company's BOD meeting held on Kartik 3, 2073 has decided  to issue Further Public Offering (FPO) to the public at a premium price.The decision is subjected to approval from concerned authorities. However FPO units and price have not been mentioned by the company yet. Standard Chartered Bank has earned net profit of Rs 1.26 arba in the fourth quarter of the fiscal year 2072/73.Its paid up capital remains at Rs 2.81 arba. After distribution of 33.33 percent bonus share its paid up capital will reach to Rs. 3.74 arba.