Four development banks announce dividends: which bank's shares still offer proposed dividends?
So far, five development banks have announced dividends for fiscal year 2082/83. Among them, Shine Resunga, Kamana Sewa, Shangrila, and Garima development banks have already held their annual general meetings, while Miteri Development Bank has not set a meeting date, meaning investors can still buy shares of some banks to receive proposed dividends.
Kathmandu. So far, five development banks have announced dividends for fiscal year 2082/83. These banks have declared dividends to be distributed to their shareholders from the profits of the previous fiscal year.
The development banks that have announced dividends so far include Shine Resunga Development Bank, Kamana Sewa Development Bank, Shangrila Development Bank, Miteri Development Bank, and Garima Development Bank.
- Shine Resunga Development Bank has decided to distribute a total 16 percent dividend for fiscal year 2082/83 from the distributable accumulated profit of the current paid-up capital of NPR 5 arba 2 crore 19 lakh 72 thousand 729.93. This includes 6 percent bonus shares and 10 percent cash dividend (including tax). The bank has already completed its annual general meeting.
- Kamana Sewa Development Bank has proposed to distribute cash dividend (including tax) from the distributable profit at the end of the previous fiscal year to shareholders, comprising 9 percent on the proportional amount of NPR 1 crore 40 lakh 67 thousand 123.29 calculated on the preference share capital of NPR 35 crore from the date of allotment to the end of last Ashad, and 15 percent on the ordinary share capital of NPR 3 arba 86 crore 19 lakh 30 thousand 814.94, amounting to NPR 57 crore 92 lakh 89 thousand 622.24. The bank completed its annual general meeting on Bhadra 31 and approved the proposed dividend.
- Shangrila Development Bank has decided to distribute a total dividend of 10.5263 percent amounting to NPR 39 crore 30 lakh 59 thousand 842.69 on the current paid-up capital of NPR 3 arba 73 crore 40 lakh 68 thousand 505.53 for fiscal year 2082/83. This includes 4 percent bonus shares amounting to NPR 14 crore 93 lakh 62 thousand 740.22 and 6.5263 percent cash dividend (including tax on cash and bonus) amounting to NPR 24 crore 36 lakh 97 thousand 102.47. The bank has already completed its annual general meeting.
- Garima Development Bank will distribute a total 20 percent dividend from the previous fiscal year's profit on the current paid-up capital of NPR 6 arba 2 crore 13 lakh 48 thousand 367.22. This includes 10 percent bonus shares and 10 percent cash dividend (including tax). The bank has already completed its annual general meeting.
- Miteri Development Bank has decided to distribute a total 11 percent dividend for fiscal year 2082/83 from the previous fiscal year's profit and accumulated profit on the current paid-up capital of NPR 1 arba 21 crore 71 lakh. This includes 5 percent bonus shares and 6 percent cash dividend (including tax). The bank has not set a date for its annual general meeting.
Thus, since Shine Resunga, Kamana Sewa, Shangrila, and Garima Development Banks have already completed their annual general meetings, buying their shares now will not entitle investors to the proposed dividends. However, because Miteri Development Bank has not set a date for its annual general meeting, investors can still buy its shares and receive the proposed dividend for some time. Investors should be aware of the book closure date and meeting details to qualify for dividends.