Jeevan Bikas Laghubitta Amends the Dividend Rate for Fiscal Year 2078/79; What is the New Bonus Dividend?

Sun, Mar 5, 2023 10:47 AM on Latest, Dividend, Bonus & Rights, NEPSE News,

Jeevan Bikas Laghubitta Bittiya Sanstha Limited (JBLB) has amended the dividend rate from  37.3684% to 33.15% for the fiscal year 2078/79.

The 72nd meeting of the board of directors held on Falgun 06 decided to distribute the dividend on the paid-up capital of Rs. 1.03 Arba. 28% bonus shares and a 9.3684% cash dividend had been proposed.

The dividend was to be distributed only after approval by Nepal Rastra Bank and endorsement by the company's upcoming AGM. According to the instructions of Nepal Rastra Bank, the dividend has been revised. Hence, a new dividend rate amounting to 26% Bonus dividend and 7.15% cash dividend has been proposed.

Thus, the bonus shares are worth Rs. 26.89 crores, and the cash dividend is worth Rs. 7.39 crores. The cash dividend has been proposed for the tax amount on bonus shares.

The dividend will be distributed after being endorsed by the next Annual General Meeting.

Last year, the company distributed a 73.68% dividend including 70% bonus shares for FY 2077/78.