Last Day to Grab 16% Dividend of Garima Bikas Bank Limited (GBBL)
Wed, Mar 16, 2022 9:16 AM on Dividend, Bonus & Rights, AGM/Special AGM, Book Closure, Latest,
Garima Bikas Bank Limited (GBBL) has called its 15th AGM on 18th Chaitra, 2078. The meeting will be held in Hotel Pokhara Grande, Birauta, Pokhara, starting at 10: 30 am that day.
Among other agendas, this AGM will endorse a 16% dividend for the fiscal year 2077/78. This dividend has been proposed from the retained earnings and share premium of both Garima Bikas Bank and Sahara Bikas Bank. The 270th meeting of the board of directors held on Poush 22 decided to distribute the entirety of the dividend in bonus shares from the paid-up capital of Rs. 3,94,81,83,105.08. This is the paid-up capital maintained after the acquisition of Sahara Bikas Bank in a 1: 1 swap ratio. Thus, the bonus shares are worth Rs. 63,17,09,296.81.
Shareholders maintained before joint operation after the acquisition of Sahara Bikas Bank Limited have received tax exemption on bonus shares. Meanwhile, those who bought the shares after the commencement of joint operation (28th Kartik, 2078) will have to manually pay the tax on bonus shares.
Furthermore, the merged company saw an alteration to its previous shareholding ratio of 51: 49. To revert the ratio back to this, the company will endorse issuing 1,09,811 promoter shares.
As of writing, GBBL has an LTP of Rs. 568.
