Progressive Finance ( PROFL) announce dividend from the profit of the last fiscal year 2077/78.

A meeting of the company’s board of directors held on Friday proposed to distribute dividend from the profits of the fiscal year 77/78.

The 473rd meeting of the board of directors held on Poush 01 decided to distribute the dividend on the paid-up capital of Rs. 80.01 crores. The company has proposed 7% bonus shares worth slightly over Rs 5.6 crores and 0.3684% cash dividend (including tax) worth Rs 29.47 lakhs.

The dividend will be distributed to the shareholders only after the approval of Nepal Rastra Bank and the approval of the next annual general meeting of the company.

This is the first time the company has declared a dividend. As of writing, PROFL has an LTP of Rs. 346.