KATHMANDU, NOVEMBER 14
Lumbini Bikas Bank Limited (LBBL) has revised its dividend proposal and increased the number of bonus shares to be distributed.
Earlier, the company had proposed to distribute 13.7 per cent dividend for fiscal year 2077/78. Meanwhile, 10 per cent bonus shares worth Rs 29.06 crores and 3.712 per cent cash dividend (including bonus share tax purpose) worth Rs 10.78 crore had been proposed.
However, as the company failed to comply with the central bank's directive regarding dividend distribution, Nepal Rastra Bank has instructed the company to revise its dividend proposal.
In line with the new directives, LBBL has now proposed a 13 per cent bonus share worth Rs. 37.78 crore and 0.68 per cent cash dividend for tax purposes worth slightly over Rs. 1.98 crores.
The dividend is subject to endorsement by the company's upcoming Annual General Meeting (AGM).
As of Sunday, LBBL has an LTP of Rs 626.10.