Kathmandu. Garima Bikas Bank Limited has proposed to distribute a total of 20 percent dividend to its shareholders.
The meeting held on Thursday by the board of directors of the bank has proposed to distribute 10 percent bonus shares and 10 percent cash dividend from the accumulated profit of the financial year 2082/83.
According to the bank, the proposed cash dividend will also include the tax levied on the dividend. At present, the permanent paid-up capital is 6 billion 2 crore 13 lakh 48 thousand 367 rupees 22 paise.
The 351st meeting of the board of directors of the bank proposed to distribute the dividend. The proposed dividend should be approved by Nepal Rastra Bank. After that, the shareholders will receive the dividend only after it is passed by the upcoming 20th annual general meeting of the bank.
According to the bank, after the distribution of 10 percent bonus shares, the bank's paid-up capital will increase to 6 billion 62 crore 34 lakh 83 thousand 203 rupees 94 paise.
Serviced from 126 branches and 51 ATMs
Garima Bikas Bank, which has its central office in Baluwatar, Kathmandu, has been providing banking services through 126 branch offices and 51 ATMs across the country.
The bank has been providing modern and technology-friendly banking services to customers. The bank said that after passing the resolution regarding dividend from the upcoming general meeting, it will be distributed to the shareholders.
