. KATHMANDU: Kamana Sewa Bikas Bank has approved a proposal to distribute dividend to its shareholders from the profit of the current fiscal year 2082/83. With this, the bank has become the first bank to declare dividend from the profit of the current fiscal year.

The 419th meeting of the Board of Directors of the bank held on August 7 approved the proposal of distributing dividend to the preference and ordinary shareholders.TAG_OPEN_p_9

The bank has proposed to distribute 9% dividend to the preference shareholders from the date of allotment of preference shares to the shareholders till Ashad End, 2083.TAG_OPEN_p_8 Similarly, the government has decided to distribute 15 percent cash dividend (including tax) to the general shareholders.

The proposed dividend is subject to approval from Nepal Rastra Bank and endorsed by the bank’s 20th Annual General Meeting (AGM).TAG_OPEN_p_7

In the last fiscal year, the bank had distributed 15.7895% dividend including bonus shares and cash dividend.TAG_OPEN_p_6

Dinesh Thakali, chief executive officer of the bank, said that the meeting of the board of directors of the bank approved the proposal regarding the distribution of dividend.TAG_OPEN_p_5