Mirmire Microfinance Development Bank proposes 30.80% bonus share; Paid up capital to reach Rs 5.42 crore

Mirmire Microfinance Development Bank has decided to distribute 30.80 percent bonus share to its shareholders. As per the notice published in NEPSE today, the 120^th BOD meeting of the development bank held on 6^th Mangsir, 2074 has proposed 30.80 percent bonus share and 1.62 percent cash dividend for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2073/74. The decision is subjected to approval from Nepal Rastra Bank and the microfinance company’s upcoming Annual General Meeting (AGM). Last year, MMFDB had distributed 50% bonus share to its shareholders. MMFDB has earned net profit of 52.29 lakh in the first quarter of fiscal year 2074/75. Its paid up capital at the end of FY 2073/74 stands at Rs 3 crore. It had also issued 50% right share, after which, its paid up capital has reached Rs 4.50 crore.  After issuance of 30.80% bonus share, the paid up capital will reach Rs 5.424 crore. It had also endorsed 100% right shares on its paid up capital before bonus i.e. Rs 4.50 crore. After issuance of this 100% right share, its paid up capital will reach Rs 10.38 crore. Its LTP stood at Rs 2615 as of last trading day.