Agricultural Dev. Bank declares 20% stock dividend; Paid up to reach Rs 7.08 arba

Agricultural Development Bank Limited (ADBL) has decided to distribute 20 percent stock dividend to its shareholders. As per the notice published in Nepal Stock Exchange (NEPSE) today, the company’s 638^th BOD meeting held on Poush 14, 2073 has proposed 20 percent bonus share and 1.053% cash dividend (for tax purpose) to its shareholders from the net profit it earned in FY 2072/73. The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM). ADBL had distributed 15 percent bonus share to its shareholders from the profit it made in the fiscal year 2071/72. Agricultural Dev. Bank has earned net profit of Rs 42.23 crore in the first quarter of the fiscal year 2073/74 as per unaudited report. Its paid up capital remains at Rs 3.93 arba. After the allotment of 50% right share floated in Kartik 2073, its paid up capital will reach Rs 5.9 arba. After distribution of this proposed 20% bonus share, the paid up capital will rise to Rs 7.08 arba.