Laxmi Sunrise Bank Declares 7.37% Dividend For FY 2079/80

Laxmi Sunrise Bank Limited (LSL) has proposed a 7.37% dividend for the fiscal year 2079/80.

The company's 283rd meeting of the board held on December 12, 2023, has proposed a 7.37% dividend from the paid-up capital. The paid-up capital of the company stands at Rs. 21.67 Arba. 7% bonus shares of 15,169,166.50 Units and 0.37% cash dividend (including tax) worth Rs. 79,837,718 have been proposed.

This decision is subject to approval from the Nepal Rastra Bank after which it will be endorsed in the AGM of the company.

Earlier, Laxmi Bank Limited (LBL) and Sunrise Bank Limited (SRBL), a licensed financial institution of the "A" category from Nepal Rastra Bank (NRB) completed the final merger procedure at a share swap ratio of 1: 1.

The paid-up capital of LBL was Rs. 11.55 Arba whereas the paid-up capital of SRBL was Rs. 10.11 Arba. The total paid-up capital had reached Rs. 21.67 Arba after the merger.

"Laxmi Sunrise Bank Limited" had been agreed upon as the name of the new company that was formed as a result of the merger. The merged entity began its integrated business from Ashad 29.