NIC Asia Bank Ltd organized its 18th Annual General Meeting (AGM) in Biratnagar on Sunday.

Issuing a statement, the commercial bank said the approved a proposal to distribute 39 percent bonus shares and 2.05 percent cash dividend (for tax purpose) to its shareholders from the net profit it earned in last fiscal year 2015/16.

Similarly, the AGM also approved the proposal to issue 4:1 rights shares to its shareholders, the commercial bank said in the statement.