Tourism Development Bank announces 19.8% stock dividend

Tourism Development Bank Limited (TDBL) has decided to distribute 19.8 percent stock dividend to its shareholders. As per the notice published in Nepal Stock Exchange (NEPSE) today, the company’s 172^nd BOD meeting held today (Mangsir 13, 2073) has proposed 19.8 percent bonus share to its shareholders (after acquisition with Kalinchowk Development Bank Limited and Matribhumi Development Bank Limited bonus share will change to 18.6%). The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM). Earlier, TDBL had distributed 16 percent bonus share to its shareholders from the profit it made in the fiscal year 2071/72. Recently, the Special General Meeting (SGM) of Tourism Development Bank had approved the acquisition of Kalinchowk Development Bank Limited (KLDBL) and Matribhumi Bikas Bank Limited (MTBL). Also, the SGM had approved to issue 1:1 right share after the acquisition process. Tourism Development Bank has earned net profit of Rs 4.24 crore in the first quarter of the fiscal year 2073/74 as per unaudited report. It’s paid up capital remains at Rs 78.69 crore. After the issuance of 19.8 percent bonus share the paid up capital will rise to Rs 94.27 crore.