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Wednesday, October 20, 2021
    Nepal Stock ExchangeRight | Bonus | DividendNepal Infrastructure Bank (NIFRA) Reduces Dividend and Bonus Shares in Place...

    Nepal Infrastructure Bank (NIFRA) Reduces Dividend and Bonus Shares in Place of Cash Payments

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    It has been decided to alter the dividend proposal of Nepal Infrastructure Bank Limited (NIFRA).

    The corporation had earlier requested an 8.5 cash dividend for the fiscal year 2077/78, which was approved by the shareholders. The board of directors had decided to distribute the cash dividend the company’s paid-up capital of Rs. 20 Arba at their meeting on Ashwin 04, which had taken place the previous day.

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    Nevertheless, the Nepal Rastra Bank ordered the company to alter its dividend proposal because it did comply with the bank’s mandate on dividend distribution at the time of publication. As a result, NIFRA has recommended an 8 bonus share Rs. 1.60 Arba and a cash dividend for tax purposes of slightly more than Rs. 8.42 crores, for a total of Rs. 1.60 Arba and Rs. 1.60 Arba.

    As of this writing, NIFRA’s LTP is at Rs. 344.

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