Agricultural Development Bank (ADBL) proposes 15.7895% Dividend: Cash Dividend also proposed for Irredeemable Noncumulative Preference Share

Agricultural Development Bank Limited (ADBL) has proposed a 15.7895% dividend for the fiscal year 2076/77.

The 853rd meeting of the board of directors held on Mangsir 29 has decided to distribute 15% bonus shares and 0.7895% cash dividend (for tax purposes) from the paid-up capital. Furthermore, the company has also decided to distribute a 6% cash dividend for Irredeemable Non-cumulative Preference Share.

ADBL’s paid-up capital stands at Rs 14.44 arba which includes Rs 9.55 arba from ordinary shares and Rs 5.43 arba from irredeemable non-cumulative preference share.

Note that this dividend will be distributed only after approval from Nepal Rastra Bank and endorsement by the company's upcoming AGM. As of writing, the company's LTP stands at Rs. 552.