Global IME Bank's AGM approves 10% dividend

Global IME Bank Ltd's 20th annual general meeting has unanimously approved a proposal to distribute a 10 percent dividend on paid-up capital to shareholders.

The bank said this will comprise 4 percent bonus shares and a 6 percent cash dividend, including tax.

The meeting was held on Friday at the Nepal Police Club in Bhrikutimandap, Kathmandu.

The bank reported a net profit of around 604 million rupees in fiscal year 2082/83, about 16 percent higher than the previous year. Operating profit reached nearly 9.60 billion rupees, the bank said.

After the bonus share distribution, paid-up capital will reach around 39.69 billion rupees, according to the bank.

The meeting also approved the annual report and consolidated financial statements presented by chairman Chandra Prasad Dhakal, who thanked shareholders, customers and regulatory bodies.

The bank said it had contributed about 57.6 million rupees to the Prime Minister's Disaster Relief Fund to help flood victims.