KATHMANDU

Garima Bikas Bank Limited has announced plans to distribute dividends. The bank has announced that it will distribute a 10 percent dividend from the profit of the last fiscal year to its shareholders.

The meeting of the Board of Directors held on Wednesday, Push 4, has decided to distribute a 9.50 percent bonus share and a 0.50 percent cash dividend for tax purposes to the shareholders. Garima Bikas Bank will distribute a dividend of NPR 51,87,68,705.72 to its shareholders.

After the proposed dividend is approved by the regulatory authority, Nepal Rastra Bank, and the bank’s upcoming annual general meeting, the distribution will only be made to the shareholders.

Last year, the bank distributed a 13 percent bonus share and a 1.50 percent cash dividend for tax purposes. Compared to the previous year, the bank is distributing a lower dividend this year.