Standard Chartered Bank announced 41.5% cash dividend & 10% bonus for fy 070/71

Standard Chartered Bank Nepal Limited has pledged 41.5 percent cash dividend and 10 percent bonus share to its shareholders from the net profit it earned in the last fiscal year.

It may be noted that Standard Chartered had offered 50 percent dividend, including 10 percent bonus share for the previous fiscal year 2069/70.

Publishing a notice yesterday, one of the blue-chip companies has stated that the dividend it has pledged is, however, subject to the approval of the central bank and its upcoming Annual General Meeting.

Standard Chartered had posted an impressive profit rise of 13 percent in the fourth quarter of the last fiscal year 2070/71.

Its net profit reached Rs 1.38 arba in the last fiscal year, up from Rs 1.22 arba in the corresponding period of the previous fiscal year 2069/70. The bank attributed the momentum maintained by the income streams to the rise in the profits.

The bank’s net interest spread is 7.09 percent, which is higher than the 5 percent cap fixed by the NRB for the commercial banks to be mandatorily enforced from this fiscal year.