Agricultural Dev. Bank in process to distribute 15% stock dividend; Successful in providing competing result to shareholders

Agricultural Development Bank Limited, one of the leading commercial banks in the country has been providing competing outcome since its operation. The commercial bank has shown improvements in its financial condition besides conducting various governmental programs. The bank had distributed 31.58% cash dividend and 7 % bonus share in FY 2069/70.Likewise in FY 2070/71, the commercial bank had provided 8.79% cash dividend and 7% bonus share. The company is in process of distributing 15% bonus share to its shareholders from the net profit it earned in the FY 2071/72. Agricultural Development Bank 9^th AGM held on Baisakh 14, 2073 had agendas to endorse 2:1 right share and 15 percent bonus share. The bank aims to distribute 20% bonus share in the upcoming FY 2073/74 from the profit of ongoing FY to maintain its paid up capital at Rs 8 arba as per the Monetary Policy of Nepal Rastra Bank. According to Lila Prakash Sitaula, CEO of Agriculture Development Bank, ‘The bank is dedicated to provide competing result to its customers, shareholders and concerned authorities through reliable and quality banking services.’ The commercial bank has earned a net profit of Rs.1.77 arba in current fiscal year. Also it has amassed huge deposit collection of Rs. 83.51 arba and disbursed loans of Rs 74.27 arba. The bank had been prioritizing in commercialization of agriculture, industrialization and rural development since its establishment period. The bank has been providing services from 245 offices from different parts of the country. Kabita Nayaju ShareSansar