ADBL pledges huge cash dividend of 31.58 percent

ShareSansar, February 10:

Agriculture Development Bank Limited has pledged an impressive cash dividend of 31.58 percent to its shareholders from the net profit it posted in the last fiscal year.

The 482nd BoD meeting of the state-run commercial bank has just offered the dividend, which is, however, subject to the approval of the central bank and the upcoming AGM of the commercial bank.

This is the highest cash dividend pledged by any state-run bank and second highest by commercial bank in the country for the last fiscal year, following 50 percent cash dividend offered by Everest Bank Limited.

It may be noted that over the past few weeks ShareSansar had been reporting about 30 percent dividend to be offered by ADBL, which is seeking strategic alliance with foreign partner for better management.

The sources have also informed us that the central bank has agreed in principle to approve the pledged dividend.

“Now we are planning to hold the AGM within the month of Falgun to formally endorse the dividend as our shareholders have waited too long for it,” said a highly-placed source.