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ECONOMY

NIC ASIA announces rights issue, stock dividend

KATHMANDU, Aug 27: NIC Asia Bank Ltd has announced that its board of directors has proposed distributing 26 percent stock dividend and 1.37 percent cash dividend to its shareholders.
By Republica

KATHMANDU, Aug 27: NIC Asia Bank Ltd has announced that its board of directors has proposed distributing 26 percent stock dividend and 1.37 percent cash dividend to its shareholders.


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Issuing a statement, the commercial bank said a meeting of its board of directors held on Friday decided to propose 27.37 percent dividend for Fiscal Year 2015/16, and to raise further capital through a 15 percent rights issue.


The proposal is subject to approval of its upcoming annual general meeting and Nepal Rastra Bank.

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