Nepal SBI to distribute 28.42% dividend

Kathmandu December 18- BOD meeting of Nepal SBI bank has proposed to distribute 27% bonus share and 1.42% cash dividend of its total paid up capital to its shareholders. NSBI had not submitted its capital plan in the scheduled time frame to NRB. Though its BOD has planned to increase paid up capital to Rs. 8 billion.

The proposed dividend is needed to be endorsed by NRB and forthcoming AGM.  After the distribution of bonus share, its paid up capital will reach to Rs. 3 billion 883.7 million which was Rs. 3 billion 50 million in previous FY.

Bank has succeeded to earn 302 million net profits in the first quarter of current FY. In the first quarter, bad debt of the bank is 0.18%, risky asset is 14.33%, EPS is Rs. 39.51 and P/E ratio is 35.43 times.

Last year, NSBI had distributed  total of 22% dividend comprised of 7% cash dividend and 15% bonus share.