Summit Microfinance declares 41.72% stock dividend; paid up capital will reach Rs 4.99 crore

Summit Microfinance Development Bank Limited (SMFDB) has decided to distribute 41.7234 percent bonus share and 2.196 percent cash dividend for tax purpose. The 128^thBOD Meeting of the company held on Kartik 27 has proposed 41.7234 percent bonus share and 2.196 percent cash dividend 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). Earlier in the fiscal year 2070/71, Summit Microfinance had distributed 26 percent bonus share and 12.95 percent cash dividend to their shareholders As per unaudited report SMFDB had earned net profit of Rs 2.78 crore in the fourth quarter of last fiscal year 2071/72. It’s paid up capital remains at Rs 3.52 crore. After distributing 41.7234 percent bonus share it’s paid up capital will rise to Rs 4.99 crore.