Prime Commercial Bank to distribute 16% bonus shares for FY 75/76; paid up capital to increase to Rs.11.23 Arba

Nepal Stock Exchange Limited (NEPSE) has published a notice regarding the dividend declaration of Prime Commercial Bank Limited (PCBL).

The 384^th BOD meeting of the bank has decided to distribute 16% bonus shares to the shareholders out of the profits of FY 75/76. The paid up capital will increase from Rs.9.68 Arba to Rs.11.23 Arba after issuing the bonus shares. The declared dividend will be applicable to recently acquired Kankai Bikas Bank Limited (KNBL) too. PCBL has recently acquired KNBL at 100 : 71.5 swap ratio. 

The decision is subject to approval from NRB after which it will be endorsed in the upcoming AGM of the bank. The bank is in process to acquire Lalitpur Finance and Kailash Bikas Bank Limited.