8th December 2024, Kathmandu
Siddhartha Bank Limited has declared a cash dividend of 4% for its shareholders from the profits of the previous fiscal year. This decision follows a meeting held by the bank’s board of directors on December 6.
Siddhartha Bank’s 4% Cash Dividend Proposal
Dividend Distribution Details
Siddhartha Bank has announced a cash dividend of NPR 563.36 million, which is 4% of its paid-up capital. The bank’s paid-up capital stands at NPR 14.08 billion. This cash distribution will occur once it receives approval from Nepal Rastra Bank (NRB).
Approval Process
The bank will submit the dividend proposal to NRB for approval. Once NRB grants approval, the proposal will be presented at the bank’s Annual General Meeting (AGM).
The AGM must also approve the dividend before it can be distributed. After these two steps, the bank will proceed with the dividend distribution.
Financial Standing
Siddhartha Bank is in a strong financial position, supported by its paid-up capital of NPR 14.08 billion. The decision to distribute a 4% cash dividend reflects the bank’s solid financial performance. It shows the bank’s ability to generate profits and reward its investors.
The bank has ensured that the dividend distribution follows all required regulatory procedures.
Commitment to Shareholders
This move highlights the bank’s commitment to its shareholders. By declaring the dividend, the bank aims to maintain trust and satisfaction among its investors.
It is a sign of confidence in the bank’s financial health. The process will proceed smoothly once the necessary approvals are received.
Next Steps
Once the NRB and AGM approvals are secured, the bank will release the dividend to its shareholders. This payout serves as a reward for their continued support. The bank assures shareholders that the distribution process will meet all legal and regulatory requirements.
