Summit Microfinance proposes 34.48% bonus along with 10.52% after-tax cash dividend; Paid up to reach Rs 17 crore

Summit Microfinance Development Bank Limited (SMFDB) has proposed a total of 46.82% dividends to its shareholders. As per the notice published in NEPSE today, 155^th BOD meeting of the microfinance company held on Bhadra 30, 2074 has proposed 34.48% bonus shares, 1.81% cash dividend for tax purpose, and after tax cash dividend of 10.52% to its shareholders from the profits it had earned in the FY 2073/74. The decision is subjected to the approval from the concerned authorities and the company's upcoming AGM. SMFDB has also been issuing 100% right shares worth Rs 7.25 crore to its shareholders from Bhadra 29, 2074. After 100% right and 34.48% bonus shares, its paid up capital will reach to Rs 17 crore from existing Rs 7.25 crore. SMFDB has earned Rs 5.01 crore in the fourth quarter of the FY 2073/74. Its LTP stood at Rs 2,085 as of September 14, 2017.