Summit Laghubitta Bittiya Sanstha Limited (SMFDB) has proposed a 25.285316% dividend for the fiscal year 2077/78.
The 17th meeting of the board of directors held on Mangsir 13 decided to distribute the dividend on the paid-up capital of Rs. 39.43 crores. The entirety of the dividend has been proposed in bonus shares. Thus, the bonus shares are worth a little over Rs. 9.97 crores.
Since the company started joint operation after the merger with Sajilo Laghubitta on 6th Ashoj last year, it has received tax exemption on dividends. Thus, no cash dividend has been proposed.
The dividend will be distributed only after approval by the central bank and endorsement by the company’s upcoming AGM. As of writing, SMFDB has an LTP of Rs. 1,345.