Siddhartha Bank Limited has proposed a total 20% dividend for its ordinary shareholders from the profit of the fiscal year 2082/83.
A meeting of the bank’s Board of Directors held on Ashwin 1, 2083, proposed a 10% bonus share and a 10% cash dividend, including applicable taxes, based on the bank’s existing paid-up capital.
The proposed 10% cash dividend for ordinary shareholders amounts to Rs. 1.479 billion.
In addition, the bank has proposed an 8.25% cash dividend for its preference shareholders. The bank has proposed allocating Rs. 107.59 million for the preference share dividend.
The preference share dividend will be distributed on a pro-rata basis for the period from the date of allotment of the preference shares through the end of Ashadh 2083, according to the bank.
However, the proposed dividends are not yet final. The proposal must first receive approval from Nepal Rastra Bank and then be endorsed by the bank’s upcoming Annual General Meeting (AGM). The dividends will be distributed to eligible shareholders only after the required approvals and AGM endorsement.
Published by Siddhartha Bank on 2083-6-1
