Citizen Investment Trust (CIT) has proposed a 14.7368% dividend for the fiscal year 2079/80, subject to necessary approvals. The meeting of the board of directors, held on Jestha 32, decided to distribute a 14% bonus share and a 0.7368% cash dividend (for tax purposes).
The proposed dividend distribution is contingent upon approval from the Ministry of Finance, the Nepal Government, and the upcoming Annual General Meeting (AGM) of CIT.
CIT’s existing paid-up capital stands at Rs. 5.31 Arba, and the proposed dividend will be distributed based on this capital base.
As of the latest trading session, CIT’s share price closed at Rs. 2,151.00, reflecting the market’s assessment of the company’s performance and dividend prospects.
The dividend announcement follows CIT’s financial performance for the fiscal year 2079/80 and underscores the company’s commitment to delivering returns to its shareholders.
Investors and market participants will closely monitor the approval process and the AGM for the final ratification of the proposed dividend. Once approved, the bonus shares and cash dividend will be distributed among CIT’s eligible shareholders, enhancing their overall returns and strengthening the company’s shareholder value proposition.
CIT’s dividend history and track record of rewarding shareholders will also be factors influencing investment decisions and the overall sentiment surrounding the company’s stock.