Summit Microfinance & Gandaki Bikas Bank announces 45 % stock & 19.57 % dividend respectively

Summit Microfinance Development Bank Limited (SMFDB) has announced to distribute 45 percent bonus and 2.3684 percent cash dividend to its shareholders. The BOD meeting of the microfinance company held on Bhadra 24, 2073 has proposed 45 percent bonus share and 2.3684 percent cash dividend 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 its upcoming AGM. Earlier the bank had provided 41.72 percent stock dividend to its shareholders from the net profit it earned in the fiscal year 2071/72. SMFDB has earned net profit of Rs 3.72 crore in the fourth quarter of the last fiscal year 2072/73 as per unaudited report. It’s paid up capital stands at Rs 5 crore and after the issuance of 45 percent bonus share it’s paid up capital will rise to Rs 7.25 crore. Likewise, Gandaki Bikas Bank Limited (GDBL) has declared to distribute 19.57 percent bonus share and 1.03 percent cash dividend for tax purpose to its shareholders. The BOD Meeting of the development bank held on Bhadra 26, 2073 has proposed 19.57 percent bonus share and 1.03 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 its upcoming AGM. Earlier the bank had provided 23 percent stock dividend to its shareholders from the net profit it earned in the fiscal year 2071/72. At present GDBL has earned net profit of Rs 13.12 crore in fourth quarter of last fiscal year 2072/73. It has paid up capital of Rs 53.85 crore. After the issuance of 23 percent bonus share, its paid up capital will reach to Rs 66.23 crore. Trading of Gandaki Bikas Bank Limited (GDBL) has been suspended from today in Nepal Stock Exchange Limited (NEPSE) for the merger process with Fewa Bikas Bank Limited (FBBL).