Kamana Bikas Bank proposed 21% bonus shares & 1.105% cash dividend for fy 2070/71

Kamana Bikas Bank Ltd has proposed 21 percent bonus shares and 1.105 percent cash dividend to its shareholders from the net profit it earned in the last fiscal year 2070/71.

A meeting of the Board of Directors of the development bank decided to offer the dividend on August 28, according to a notice published on the site of Nepal Stock Exchange Limited.

It may be noted that the dividend proposed by the development bank is subject to the approval of Nepal Rastra Bank and the upcoming AGM of the development bank based in Pokhara.

Kamana had reported a rise in net profit of 27.85 percent in the last fiscal year 2070/71 as its net profit rose to Rs 6.38 crore from Rs 4.99 crore at the end of the previous fiscal year 2069/70.

Its strong crore business was largely responsible for the profit. The net interest income surged to Rs 12.99 crore up from Rs 10.57 crore.- SSN