Siddhartha Bank Proposes 20% Dividend for FY 2082/83

Siddhartha Bank Limited (SBL) has proposed a 20% dividend for its shareholders for the fiscal year 2082/83. The bank’s 482nd Board of Directors meeting, held on Ashwin 1, decided to distribute 10% bonus shares and 10% cash dividend for tax purposes from the bank’s paid-up capital. With a paid-up capital of NRS 14.79 arba, the proposed bonus shares are valued at approximately NRS 1.47 arba, while the cash dividend is also worth approximately NRS 1.47 arba. In addition, the bank has proposed an 8.25% cash dividend worth approximately NRS 10.75 crore for its preference shareholders. The proposed dividend is subject to approval from Nepal Rastra Bank (NRB) and endorsement by the bank’s upcoming Annual General Meeting (AGM). As of the time of writing, Siddhartha Bank’s Last Traded Price (LTP) stands at NRS 431.00.