NIC Asia Bank Proposes 20% Dividend and Bonus from FY 2076/77

NIC Asia Bank (NICA) has decided to distribute 20 percent dividend to the shareholders from the last financial year’s profit.

The bank will be distributing bonus shares equal to Rs 1.84 billion at the rate of 19 percent of the paid-up capital for the last fiscal year 2076/77 and a cash dividend of Rs 97.1 million equal to 1 percent for tax purposes. The bank has called a general meeting on December 7 to pass the resolution.

The bank has stated that ID and password have been provided to the shareholders so that they can attend the 23rd Annual General Meeting of the bank at the registered office of the bank through virtual medium at 11 am.

The meeting will also pass a resolution authorizing the board of directors to carry out all the work related to merger or acquisition with other suitable banks and financial institutions and forging foreign partnerships and to amend the managing letter and rules of the bank.

Form the purpose of the general meeting, the bank is going to close the book from 10 to 21 November. Accordingly, the existing shareholders who have traded in Nepse till December 26 will be able to participate in the meeting and receive the dividend distributed by the bank.

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