8th AGM of ADBL elects 4 BoD members representing public shareholders

ShareSansar June 14:

Agriculture Development Bank Limited (ADBL) 8th AGM was held at Army Officers Club, Bhadrakali on Jestha 30 (Yesterday).

One of the main agenda of the meeting was election of four BoD members representing public shareholders. Ramesh Mahat, Govinda Sharma, Ghanshayam Awasthi and Monoj Basnet have been selected as the new BOD members.

The AGM also passed the BoD’s proposal to offer 8.79% cash dividend and 7% stock dividend to ordinary shareholders and 6% cash dividend to preferential shareholders.

Agriculture Development Bank earned a net profit of Rs 1.52 billion in the fiscal year 2070/2071. Likewise, it had a net profit of Rs 1.01 arba for the third quarter of fiscal year 2071/72.