Kathmandu. Nepal Investment Bank has passed the proposed 18.50 percent dividend. The bank held its 34th annual general meeting on Thursday and passed the proposed 13 percent bonus share and 5.50 percent cash dividend.

The meeting also decided to give the board of directors the authority to do all the necessary work for the purpose of acquiring or merging any other bank and financial institution. Currently, the bank's paid-up capital is Rs. 14.24 billion 89.55 million. The bank will distribute dividend on the basis of the same capital.

The bank has closed the book for the purpose of the general meeting from January 7. On the basis of book close, only the existing shareholders will get the bank's dividend till December 6.

The bank also released its financial statements for the second quarter of the current fiscal year on Thursday. This year, the bank has raised Rs. It has made a net profit of over Rs 1.58 billion. The Bank's distributable profit for the period was Rs. 493.838 million. This year, the bank has raised Rs. 508.86 million has been allocated. By the second quarter, the bank's earnings per share stood at Rs. It is 19.71.

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