NIC ASIA announces rights issue, stock dividend

Published On: August 27, 2016 09:18 AM NPT By: Republica  | @RepublicaNepal

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.

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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