Forward Microfinance Laghubitta Bittiya Sanstha Limited (FOWAD) has proposed a 42% dividend for the fiscal year 2077/78.
The 112th meeting of the board of directors held on Mangsir 21 decided to distribute the dividend on the paid-up capital of Rs. 62.55 crores. 35% bonus shares worth Rs. 21.89 crores and a 7% cash dividend (for tax purposes) worth Rs. 4.37 crores have been proposed.
The dividend will be distributed only after approval by the central bank and endorsement by the company’s upcoming AGM. As of writing, FOWAD has an LTP of Rs. 2,647.