Summit Microfinance proposed of 43.92% dividend

Kathmandu October 28-  Board of directors meeting of Summit Microfinance Development Bank Ltd has proposed to distribute 47.72% of bonus share and 2.196% of cash dividend for tax provision from total paid up capital. Prior the distribution of bonus share, its paid up capital will increase up to Rs. 50 million.

The proposed dividend is subjected to approve from NRB and forthcoming AGM before distributing to its investors.

Bank earned net profit of Rs. 27 million 800 thousand in last FY.  Similarly, bank had collected deposit of 220 million and lended Rs. 590 million. Bank's bad debt stands on 0.33% . Bank's EPS is Rs. 78.89 while P/E ratio is 24.72 times.