Sunrise and Century are yet to declare dividend for this year; Know their positions
Thu, Dec 18, 2014 12:00 AM on Dividend, Bonus & Rights,
ShareSansar, December 18: 
Besides state run Agriculture Development Bank Limited (ADBL); there are only two non state run Commercial banks left, who being in comfortable position, are yet to declare any return to their shareholders from the profit they earned in the last fiscal year 2070/71.
In total 27 non state run commercial banks, only Sunrise Bank Limited (SRBL) and Century Commercial Bank Limited (CCBL) are due to propose or declare any dividend so far to their shareholders.
“We have submitted our audited annual financial report of 2070/71 to the NRB, as soon as it gets approved we will disclose it to the general public,” said Ishwor Pathak, Company Secretary of the Sunrise Bank Ltd.
Sunrise Bank is in position to announce around 10 percent dividend. Bank had earned Rs 308 million net profit in 2070/71 as per the published unaudited report of the company. There is provision by NRB to keep aside around 20 percent of the profit to the bank’s reserve account. After setting aside the said amount, the bank still have Rs 246 million to distribute as dividend, which is equal to 10 percent of the recent paid up capital of Rs 2.34 billion of the company.
Earlier, the 6th AGM of SRBL had approved issuance of 10: 1 ratio right shares on 4 May, 2014.
Century Commercial Bank Limited (CCBL) too is in a position to announce around 8 percent dividend to its shareholders. Bank has got around Rs 53 million and Rs 111 million respectively to distribute as dividend from the profit CCBL earned in the last fiscal years 2069/70 and 2070/71. Last year, CCBL net profit stood Rs 139 million.
Consolidated figure shows that it will be able to distribute Rs 164 million, which is equal to 8.23 percent of recent paid up capital of Rs 2 billion of the bank.
Out of the 30 commercial banks, 22 companies have so far, announced the dividend to their respective shareholders.
Janata Bank, Nepal Bank, Grand Bank, Rastriya Banijaya Bank and Prabhu Bank are not in position to give any return to their shareholders.
