Lakshmi Sunrise Bank Rewards Shareholders with 7% Bonus Shares

GP Chudal
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Lakshmi Sunrise Bank (LSL) passed 7% Bonus Shares

Lakshmi Sunrise Bank Limited (LSL), a leading commercial bank in Nepal, has announced a 7% bonus share distribution for its shareholders. The decision was made at the 23rd annual general meeting of the bank, which was held on 26th January. The shareholders approved a special resolution to issue bonus shares at that rate.

In addition, the shareholders also approved a proposal to pay a cash dividend of 0.37% for tax purposes on the bonus shares. The total dividend payout amounted to 7.37% of the paid-up capital of the bank. The bank also elected four new directors to its board, representing the founder and common shareholders. Raman Nepal and Manoj Kumar Bhattarai were elected from the founder shareholders, while Swati Rungta and Dinesh Paudyal were elected from the common shareholders.

The newly formed board of directors held a meeting on the same day and appointed Raman Nepal as the chairman of the board. The bank expressed its gratitude to its shareholders for their trust and support and vowed to continue its growth and excellence in the banking sector.
Published on: Jan-15, 2024
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