Continuing the good streak of dividend distribution, Miteri Development
Bank this year too has proposed to distribute 20% bonus share along with
additional 5% cash dividend from the last fiscal year’s earning to its
shareholders.The decision was made by the 111th Board of Directors meeting of the company. However, for the decision to be materialized, the approval from Nepal Rastra Bank (NRB) and its upcoming Annual General Meeting (AGM) is must.
As per the official of the bank, they have processed the related documents in NRB to seek approval for the proposed dividend.
The bank has tentatively targeted to hold Annual General Meeting (AGM) within the month of Ashoi after getting final node from NRB.
In the fiscal year 2069/70, the net profit of company increased 64.89% to Rs 3.295 crore from 1.998 crore. Likewise, the bank’s deposits also shoot up by 27.91% to Rs 98.82 crore from Rs 77.62 crore. Loan figure also grew by 43.71% to Rs 84.63 crore from 58.62 crore. The bank EPS stands at Rs 30.41 and Net worth at Rs 140.69.
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