Everest Bank Ltd. to distribute 50% cash dividend & 12 percent bonus shares for FY 2070/71

Shareholders of the Everest Bank Ltd will enjoy a bonanza in the run up to the Dashain festival as the bank has announced 62 percent dividend to its shareholders.

According to the bank, it is distributing 50 percent cash dividend and 12 percent bonus shares from the profit that it has achieved in the last fiscal year.

The meeting of the bank’s board of directors (BoD) held on Monday announced the dividend. However, the proposal is subject to the approval of bank’s upcoming annual general meeting and the Nepal Rastra Bank (NRB).

Likewise, the bank has also announced the book closure from Bhadra 18 to Ashoj 14.

Only those shareholders who own the shares of the bank till Bhadra 17 will be entitled to dividends to be offered by the bank.

The bank, in its statement published today, also said that it will announce the date of the AGM of FY 2070/71 later.

The bank had distributed 60 percent dividend (10 percent bonus share and 50 percent cash) in the last fiscal year 2070/71.

After the announced bonus shares adjustment, the bank’s paid up capital will reach Rs 2 arba as prescribed by the NRB. The current paid-up capital of the bank stands at Rs 1.92 arba.

According to the unaudited financial report of the bank recently published, it has earned a net profit of Rs 1.55 arba in the last fiscal year 2070/71, a jump from the profit of Rs 1.47 arba in the corresponding period of the previous fiscal year 2069/70.

The EPS of the bank stands at Rs 86.04, P/E ratio 30.58 times while net worth per share is Rs 346.94.-SSN