Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) has proposed an 11.05% dividend for the fiscal year 2077/78. This is the company’s first-ever dividend.
The meeting of the board of directors held on Chaitra 13 decided to distribute the dividend on the paid-up capital of Rs. 6.15 crores.
11% bonus shares and 0.5% cash dividend have been proposed. Thus, the bonus shares are worth Rs. 67.65 lakhs and the cash dividend is worth Rs. 3.38 lakhs. The cash dividend has been proposed for the tax amount on bonus shares.
The dividend will be distributed only after approval by Nepal Rastra Bank and endorsement by the company’s upcoming AGM. WNLB closed at Rs. 1,389 last week.