Nepal Finance Limited will not distribute any dividend for the last fiscal year 081/82.
The decision was made during the board meeting held on Mangsir 12.
The company has not been able to distribute dividends for many years. The last time Nepal Finance declared a dividend was in fiscal year 067/68, when it issued 22% bonus shares and 1.16% cash dividend for tax purposes.
Financial Position
The company is currently operating with a net loss.
By the end of the first quarter of the current fiscal year, Nepal Finance recorded a net loss of more than Rs. 5 crore 95 lakh.
Its distributable profit remains negative, standing at over Rs. 33 crore 26 lakh.
The company’s paid-up capital currently exceeds Rs. 75 crore 94 lakh.
Next Steps
The board has also decided to seek approval from Nepal Rastra Bank to endorse the annual report and financial statements for the last fiscal year.
Details Table
| Particular | Information |
|---|---|
| Company | Nepal Finance Limited |
| Dividend for FY 081/82 | Not distributed |
| Last Dividend Distributed | FY 067/68 (22% bonus shares + 1.16% cash) |
| Net Loss (Q1, Current FY) | Over Rs. 5 crore 95 lakh |
| Distributable Profit | Negative by over Rs. 33 crore 26 lakh |
| Paid-up Capital | Over Rs. 75 crore 94 lakh |
| Board Meeting Date | Mangsir 12 |
| Regulatory Approval | To be sought from Nepal Rastra Bank |