Gandaki Bikas Bank to distribute 17.32% cash dividend out of FY 75/76 profits; dividend worth Rs.47.63 Crore proposed

Nepal Stock Exchange Limited (NEPSE) has published a notice regarding the dividend decision of Gandaki Bikas Bank Limited (GDBL).

As per the notice, the 230^th BOD meeting of the development bank has decided that the company will be distributing 17.32% cash dividend worth Rs.47.63 Crore out of the profits of FY 75/76 for the shareholders of the company. The current paid up capital of the company stands at Rs.2.75 Arba.

This decision is subject to approval from NRB after which it will be endorsed by the upcoming AGM of the company. The company is in acquisition process by Mega Bank Limited. The LTP of GDBL as on 25th Sep, 2019 stood Rs 201.