Mahalaxmi Bikas Bank to distribute 9.26 percent dividend

KATHMANDU: FRIDAY, MARCH 26, 2021 – Mahalaxmi Bikas Bank has passed a proposal to distribute bonus at the rate of 9.26 percent. Ltd.’s 19th annual general meeting was held on Friday. The general meeting of the bank was held on Friday through video conference.

On the occasion, the Board of Directors of the bank proposed to distribute bonus shares at the rate of 8.80 percent and 0.46 percent cash dividend (for tax purposes on bonus shares) at the rate of 9.26 percent from the profits of the organization for the fiscal year 2077/07. The bank has stated that it has passed the proposal.

The meeting also passed the merger and acquisition proposal with the objective of further strengthening the capital base.

Mahalakshmi Bikas Bank Limited, which provides services through 103 branches and 34 ATMs in various locations in urban and rural areas of the country, has more than 500,000 customers, the bank said.