Four development banks announce dividends; which bank's shares still offer proposed dividends?

Kathmandu. So far, four development banks have announced dividends for their shareholders from the profits of fiscal year 2082/83. These banks have decided to distribute dividends from the distributable profits of the last fiscal year.

The development banks that have announced dividends include Shine Resunga Development Bank, Kamana Sewa Development Bank, Shangrila Development Bank, and Garima Development Bank.

Shine Resunga Development Bank has decided to distribute a total dividend of 16 percent of its current paid-up capital from the distributable accumulated profit of fiscal year 2082/83. This includes 6 percent bonus shares and 10 percent cash dividend (including tax). The bank's current paid-up capital stands at Rs 5 arba 2 crore 19 lakh 72 thousand 729.93. The bank has not yet fixed the date for its annual general meeting and book closure.

Kamana Sewa Development Bank has proposed to distribute cash dividend (including tax) to its shareholders from the distributable profit at the end of the last fiscal year, on its current paid-up capital of Rs 4 arba 21 crore 19 lakh 30 thousand 814.94. This includes 9 percent on the preference share capital of Rs 35 crore from the date of allotment to the end of last Ashad, amounting to Rs 1 crore 40 lakh 67 thousand 123.29, and 15 percent on the ordinary share capital of Rs 3 arba 86 crore 19 lakh 30 thousand 814.94, amounting to Rs 57 crore 92 lakh 89 thousand 622.24 as cash dividend (including tax). The bank has already passed the proposed dividend by holding its annual general meeting on Bhadra 31.

Shangrila Development Bank has decided to distribute a total dividend of 10.5263 percent of its current paid-up capital of Rs 3 arba 73 crore 40 lakh 68 thousand 505.53, amounting to Rs 39 crore 30 lakh 59 thousand 842.69, from the accumulated profit of fiscal year 2082/83.

This includes 4 percent bonus shares amounting to Rs 14 crore 93 lakh 62 thousand 740.22 and 6.5263 percent cash dividend (including tax on cash and bonus) amounting to Rs 24 crore 36 lakh 97 thousand 102.47.

The bank has decided to hold its annual general meeting on Ashoj 22. The meeting will start at 10 AM at Alice Reception in Gairidhara, Kathmandu. For the purpose of dividend and the meeting, the bank has decided to close its books from Ashoj 8 to Ashoj 22. This means only shareholders holding shares until Ashoj 8 will be eligible to receive the bank's dividend and participate in the meeting.

Garima Development Bank will distribute a total dividend of 20 percent on its current paid-up capital of Rs 6 arba 2 crore 13 lakh 48 thousand 367.22 from the profit of the last fiscal year. This includes 10 percent bonus shares and 10 percent cash dividend (including tax). The bank has decided to hold its annual general meeting on Ashoj 26 to pass the dividend. The meeting will start at 10:30 AM at Hotel Pokhara Grande in Birauta, Pokhara.

For the purpose of dividend and the meeting, the bank has decided to close its books on Ashoj 14. This means only shareholders holding shares until Ashoj 13 will be eligible to receive the bank's dividend and participate in the meeting.