Progressive Finance Limited (PROFL) has proposed a 7.3684% dividend for the fiscal year 2077/78. This is the company’s first-ever dividend.
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. 7% bonus shares worth slightly over Rs 5.6 crores and 0.3684% cash dividend (including tax) worth Rs 29.47 lakhs 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, PROFL has an LTP of Rs. 346.