Siddhartha Bank Ltd proposed 12% bonus share & 10.11% cash dividend

Siddhartha Bank Limited has proposed 22.11 percent dividend – 12 percent bonus share and 10.11 percent cash— to the shareholders from impressive net profit it registered in the last fiscal year 2069/70.

A meeting of the commercial bank’s board of directors held on Friday took the decision to this effect.

However, the proposed dividend is subject to the approval of Nepal Rastra Bank and the Annual General Meeting of Siddhartha Bank.

Siddhartha Bank had reported 49.43 percent growth in profit in the last fiscal year.

The bank earned a profit of Rs 49.04 crore as against Rs 33.04 crore in the previous fiscal.

On November 15, the bank had also reported a massive net profit rise of 626 percent in the first quarter of the current fiscal.

It had posted a net profit of Rs 10.56 crore in the first quarter, up from just Rs 2.15 crore in the corresponding quarter last year.

However, its non performing loan stands at 3.06 percent.

The EPS (annualized) of the commercial bank stands at Rs 26.09 and net worth per share at Rs 171.65.
-sharesansar