A meeting of the board of directors of the bank held on Thursday decided to distribute 29 percent bonus shares of the paid-up capital and 1.5263 percent cash for tax purposes to the shareholders.
The bank has not been able to distribute dividend for the last two financial years due to non-payment of capital fund. The bank has put more emphasis on bonus shares as distributing cash dividends can put pressure on the bank's capital fund.
The shareholders will receive the proposed dividend after the approval of the Rastra Bank and the approval of the upcoming general meeting of the bank.
