NMB Bank Ltd announced 20% bonus shares & 1% cash dividend for FY 070/71

NMB Bank Ltd has announced 20 percent bonus shares and 1 percent cash dividend for its shareholders.

A senior management executive confirmed that the board of directors meeting of the NMB Bank held on Tuesday decided to recommend 20 percent bonus shares to its shareholders and 1 percent cash dividend for the tax purposes.

With the announcement, NMB Bank has joined the list of top commercial banks of the country to offer the high dividend to its shareholders. The decision of the BoD is, however, subject to the approval of its upcoming annual general meeting and the NRB.

 According to the unaudited financial report of the bank, its net profit has risen to Rs 43.37 crore in last fiscal year 2070/71, up from Rs 36.66 crore at the end of the previous fiscal year 2069/70.
The bank had distributed 15 percent cash dividend to its shareholders in the previous year.
After the adjustment of 20 percent bonus shares, the paid-up capital of the bank will surge to Rs 2.4 arba from Rs 2 arba. - SSN