Citizens Bank Proposes 9% Dividend for Fiscal Year 2078/79
Citizens Bank (CZBIL) has proposed 9% dividend for the fiscal year 2078/79. The meeting held by board of directors of citizens bank today on 22 September 2022 has decided to distribute 9% cash dividend to its shareholders.
Citizens Bank had a distributable profit of NPR 1.46 Billion and dividend capacity of 10.28% for fiscal year 2078/79. So the bank has proposed to distribute 9% cash dividend equivalent to 1,278,087,661 from the total paid up capital of 14,200,974,006.
The proposed dividend of Citizens Bank (CZBIL) will be distributed only after the approval by upcoming AGM and Nepal Rastra Bank (NRB).
Citizens Bank has posted a net profit of NPR 2.25 Billion in the fiscal year 2078/79 and has proposed one of the lowest dividend when compared to its ten year dividend history. Citizens Bank had distributed lowest dividend of 5.263% in fiscal year 2074/75. After that the companies dividend of 9% for 2078/79 is second lowest during this period.
Citizens Bank is listed as CZBIL in Nepal Stock Exchange (NEPSE) and is trading at Rs 188.10 per share as on 22 September 2022.
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