Sunrise Bank to distribute 33 percent bonus shares

Published On: September 15, 2016 08:16 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Sept 15: Sunrise Bank Ltd (SBL) has announced 33.33 percent bonus shares to its shareholders.

Issuing a statement, the commercial bank said that 250th board meeting of the bank held on Wednesday proposed to distribute 33.33 percent stock dividend to its shareholders in the paid-up capital adjusted after the acquisition of Narayani National Finance Ltd.

According to the statement, those shareholders who have their holding before the acquisition of the finance company in the last fiscal year 2015/16 are not required to pay tax on dividend as per the tax waiver as stated in the income tax law. However, those who clinched the shares of the bank after the acquisition will have to pay the tax themselves, the statement added. The stock dividend proposal is, however, subject to approval of the bank's upcoming AGM and the central bank. 

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