Machhapuchchhre Bank giving 21.84 percent stock dividend

Published On: November 4, 2016 09:15 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Nov 4: The board meeting of Machhapuchchhre Bank Ltd (MBL) on Friday proposed to provide 21.84 percent stock dividend to the bank's shareholders from the profit earned in the last fiscal year.

According to a press release issued on Friday, the bank will distribute 20.75 percent bonus shares and 1.09 percent cash dividend for tax purpose.

The decision, however, is subject to approval of Nepal Rastra Bank (NRB) and  the bank's upcoming Annual General Meeting (AGM).

The bank has said that it targets to meet the new paid-up capital requirement of Rs 8 billion by the end of the current fiscal year.

The bank has also said that it was open for merger and acquisition with other banks and financial institutions for increasing total paid-up capital. 

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