Womi Laghubitta revises dividend to 25% bonus and 1.316% cash; actually issuing only 10.53% dividend on current paid up capital

Nepal Stock Exchange Limited (NEPSE) has published a notice regarding the revision in dividend decision of Womi Laghubitta Bittiya Sanstha (WOMI).

The microfinance company had proposed to issue 20% bonus shares and 6% cash dividend worth Rs.6.56 Crore on paid up capital of Rs.25.25 Crore, for FY 75/76. The paid up capital adjusted the right shares and acquired shares of Nagarik Laghubitta Bittiya Sanstha. However, this proposal was rejected by the NRB due to shortage in Investor Protection Fund.

Alternatively, the microfinance company now proposes to issue 25% bonus shares worth Rs.2.52 Crore and 1.316% cash dividend (for tax purpose) worth Rs.13.30 Lakhs on paid up capital of Rs.10.10 Crore (capital before right and merger adjustment).

The actual dividend on the current paid up capital (Rs.25.25 Crore) amounts to 10.53% which includes 10% bonus shares and 0.53% cash dividend for tax purposes. This decision was approved by the 141^st BOD meeting of the company and the NRB.

The dividend decision will be endorsed in the upcoming AGM of the company after which it will be distributed to the shareholders.

The eighth AGM of the company will be held on Chaitra 16, 2076 (March 29, 2020) at Jugal Hotel, Dhulikhel from 11 AM onwards. For this purpose, the books of the company will remain closed from Falgun 30, 2076 till the date of AGM. Investors holding shares of the company till Falgun 29, 2076 will be eligible to claim the dividend and participate in the AGM.