Forward Microfinance announces jumbo bonus; Investors to get 50% stock and 15% cash dividend

Company's 61st BoD meeting held on 27th Poush has proposed a jumbo dividend of 65%. The investors will get 50% stock dividend and 15% cash (Including tax for the dividend). The decision is however subject to approval from central bank and forward's upcoming AGM. 

This is the first dividend declaration after the public offering (IPO). The company had issued the shares among the general public last year. Forward Microfinance currently has a paid-up capital of Rs 20 crores. The capital will hike to Rs 30 crores after the capitalization of the proposed dividend. 

Forward Community Microfinance had earned an outstanding net profit of Rs 6.78 crores as of first quarter of current fiscal year. The company has an amazing EPS and Networth of Rs 135.66 and Rs 433.81 resp. 

 Fowad was last traded for Rs 3470 in the stock market.