Tinau Bikas Bank pledged 15% bonus share & 0.79% cash; Gaumukhee Bikas Bank proposed 4% bonus & 8% cash

Tinau Bikas Bank Limited has pledged 15 percent bonus share and 0.79 percent cash dividend for the tax purpose to its shareholders from the profit it posted in the last fiscal year 2070/71.

The 162nd meeting of the development bank’s Board of Directors has just taken the decision to this effect.

Propelled by core business, Tinau’s profit had increased by impressive 96 percent in the last fiscal year as it had posted a net profit of Rs 2.87 crore, up from Rs 1.47 crore of the previous fiscal year.

A few weeks back, Tinau had also floated a total of 322,000 units of 4:1 rights issues at the rate of Rs 100 to its shareholders.

Meanwhile, Gaumukhee Bikas Bank Limited has proposed 4 percent bonus share and 8 percent cash dividend to its shareholders.

The dividends proposed by these two development banks are, however, subject to the approval of Nepal Rastra Bank and their upcoming AGM.- SSN