Kamana Sewa Bikas Bank Distributes 5.7895% Cash Dividend to Shareholders

Kamana Sewa Bikas Bank Limited has started distributing 5.7895% cash dividend to the bank accounts of its shareholders for the fiscal year 2081/82.

According to the decision made during the bank’s 19th Annual General Meeting, the bank had approved a 10% bonus share and a 5.7895% cash dividend (including tax adjustment). The cash dividend has been credited to shareholders’ bank accounts through the Interbank Payment System (IPS) starting from Ashoj 26, 2082, for those shareholders who had updated their bank account details in their Demat accounts by Ashoj 7, 2082.

The bank has requested shareholders who have not yet updated their bank account numbers or Individual Account Numbers (IAN) in their Demat accounts to do so at the earliest. The linked account must be under the shareholder’s own name and maintained with a bank or financial institution registered under Nepal Clearing House Limited (NCHL) and having IIPS membership.

The notice further clarifies that any applicable service charges imposed by banks or financial institutions while crediting the dividend will be borne by the shareholders themselves.

For shareholders who have pledged their shares as collateral for loans as of Ashoj 7, 2082, the dividend will be deposited only after obtaining a No Objection Letter or Loan Settlement Letter from the respective bank or financial institution.

The bank has also advised shareholders who have not yet received their dividends to check the list of such shareholders published on the Prabhu Capital Limited website (www.prabhucapital.com) and contact their respective depository participants for necessary corrections.

The credited dividend will appear in shareholders’ bank statements as “KSBBL 5.7895% CASH DIVIDEND 81/82.”
Similarly, the 10% bonus shares will be credited to shareholders’ Demat accounts once they are listed and registered with Nepal Stock Exchange (NEPSE) and CDS & Clearing Limited (CDSC).