Sanima Bank & Ridi Hydropower proposes 16% & 6% stock dividend respectively

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    Sanima Bank Limited (SANIMA) has decided to issue 16% stock dividend to its shareholders.

    As per the notice published in NEPSE, the BOD meeting of the company held on Bhadra 16 has decided to propose 16% stock dividend to its shareholders from the profit it earned in the last fiscal year 2073/74/.

    The decision is subjected to approval from Nepal Rastra Bank and the commercial bank’s upcoming Annual General Meeting (AGM).

    Last year, Sanima Bank had distributed 15 percent stock dividend to its shareholders.

    Sanima Bank had earned net profit of Rs. 1.32 arba in the fourth quarter of the last fiscal year 2073/74. Its paid up capital stands at Rs 6.89 arba. After issuance of 16% stock dividend its paid up capital will reach Rs 8 arba, After this bonus, the bank will meet the minimum capital requirement of Rs 8 arba set by Nepal Rastra Bank.

    Likewise, Ridi Hydropower Company Limited (RHPC) has proposed 6% stock dividend to its shareholders.

    As per the notice published in NEPSE, the BOD meeting of the company held on Bhadra 16 has decided to propose 6% stock and 0.3157 percent cash dividend for tax purpose to its shareholders from the profit it earned in the last fiscal year 2073/74/.

    The decision is subject to the approval from its AGM which is going to be held on Kartik 10, 2074.

    Last year too, RHPC had distributed 6 percent stock dividend to its shareholders.

    After the issuance of this bonus share, its paid up capital will reach Rs 50.05 crore from existing Rs 47.22 crore. RHPC had earned Rs 2.53 lakh in the fourth quarter of the last fiscal year 73/74.

    Source: Sharesansar