No Dividends to Shareholders of Forward Microfinance and Progressive Finance Limited
Thu, Dec 14, 2023 1:27 PM on Latest, Dividend, Bonus & Rights,
Forward Microfinance Laghubitta Bittiya Sanstha Limited (FOWAD) has announced that no dividends will be distributed for the Fiscal Year 2079/80.
The decision was made during the 142nd Board Meeting held on Mangsir 27. The FOWAD Board has endorsed the financials for the fiscal year 2079/80 and has not proposed any cash dividends or bonus shares for the FY 2079/80. The profit will be kept as a reserve fund rather than paid out as dividends to shareholders.
It is important to note that this decision is contingent upon the approval of the financial statements by the regulatory authority, Nepal Rastra Bank, and the upcoming Annual General Meeting of the company.
As of writing, FOWAD has an LTP of Rs. 1,125.00.
Past Dividend History:
Similarly, Progressive Finance Limited (PROFL) has declared that it will not be distributing any dividends for the Fiscal Year 2078/79.
The 508th Board Meeting of PROFL held on Mangsir 27, 2080 has decided that the finance company will not distribute any dividends to its shareholders from the profit of FY 2078/79. The company has passed information regarding the decision of not distributing dividends for the Fiscal year 2078/79 to the Nepal Rastra Bank for approval and to submit the proposal to the next annual general meeting of the company.
As of writing, the company's LTP is Rs. 311.
Past Dividend History:
