Seven commercial banks announces dividend

KATHMANDU: Seven out of 27 commercial banks in the country have announced dividends for its investors for 2019-20 fiscal year.

Banks have declared dividend of 10.4 to 20 percent. NIC Asia Bank has declared the highest dividend of 20 percent.

While Bank of Kathmandu (BoK) and Global IME Bank have declared 16 percent dividend each, Sanima Bank have announced 13.6 percent dividend to its shareholders. Similarly, Kumari Bank has announced 14 percent dividend to its investors.

Likewise, Citizen Bank and Machhapuchhre Bank have announced 11 percent and 10.4 percent dividend, respectively.

The Nepal Rastra Bank (NRB) had tightened BFIs from distributing cash dividend and encouraged them on distributing bonus shares. As per NRB’s provision, BFIs can distribute only up to 30 percent cash dividend out of the total dividend to its investors.