Alpine Dev. Bank announces 69.33% Right Share; Paid up to reach Rs 42.60 crore

Alpine Development Bank Limited (ALDBL) has decided to distribute 3:2.08 (69.33%) right share to its shareholders. As per the notice published in NEPSE today, the 120^th BOD meeting held on Poush 3, 2073 has proposed issuance of rights shares in the proportion of 3:2.08 to their shareholders. The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM). The development bank has also published book closure date for the purpose of AGM. The register of its shareholders will remain close from Poush 13 till Poush 29 for the purpose of its AGM which is going to be held on Poush 29, 2073. Recently, Alpine Development Bank had proposed 14.5 percent bonus share and cash dividend worth Rs 17, 33,437 for tax purpose to its shareholders from the net profit it earned in the last fiscal year 2072/73. Earlier, ALDBL had distributed 23 percent bonus share to its shareholders from the profit it made in the fiscal year 2071/72. Alpine Development Bank has earned net profit of Rs 54.56 lakh in the first quarter of the fiscal year 2073/74 as per unaudited report. Its paid up capital remains at Rs 21.97 crore. After distribution of 14.5 % bonus and 69.33% right share, its paid up capital will reach to Rs 42.60 crore.