The Mahalaxmi Bikas Bank Limited (MLBL) recommends a dividend of 21.0526 percent for the fiscal year 2077/78.

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Mahalaxmi Bikas Bank Limited (MLBL) has recommended a dividend of 21.0526 per for the fiscal year 2077/78, which begins on April 1.

The dividend was approved the board of directors at their meeting on Sunday afternoon. The development bank has a paid-up of Rs 3,34 billion, which is maintained the government.

The proposal is for the issuance of 20 percent bonus shares Rs 66.84 crores and the payment of a 1.0526 percent cash dividend (including rax) of Rs 51.83 lakhs.

But the planned payout is subject to approval the bank and ratification by the company’s Annual Meeting, which will take place in the near future (AGM).

MLBL now has an LTP of Rs 617.4 as of Monday.

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