Machhapuchhre Bank has declared 14 percent dividend

Sep Wed 2021 01:28:31


Machhapuchhre Bank has declared 14 percent dividend

Kathmandu. Machhapuchhre Bank Limited has declared a dividend for the fiscal year 2077/78. It has been decided to propose to distribute 14 percent dividend (including tax) of the paid up capital to the shareholders from the net profit of the last fiscal year (2077/78).

 Under the dividend, the bank has decided to distribute 13.30 percent bonus shares and 0.70 percent cash dividend (for tax purposes) after the approval of Nepal Rastra Bank and approval from the next annual general meeting.

The bank had earned a net profit of Rs 1.60 billion in the last fiscal year and maintained its earnings per share at Rs 17.76. The bank has a paid-up capital of Rs 9.05 billion and a general reserve fund of Rs 2.2 billion.

Machhapuchhre Bank Limited has lost 162 branches and 175 branchless banking services, 7 extension counters in the same province from Jhapa in the east to Kanchanpur in the west and from Himal to Pahad and Terai.