Excel Development AGM approved 36.84% dividend; 25.92% right in offing
Sun, Jan 11, 2015 12:00 AM on AGM/Special AGM,
Sharesansar, January 11:
Jhapa based Excel Development Bank Limited (EDBL) 9th annual general meeting held on Poush 26 has approved the decision to distribute 35 percent bonus share and 1.84 percent cash dividend (for tax purpose) to its shareholders.
Publishing a press release, the bank inform that the meeting has also approved the decision to issue 25.9257% right share on increased capital after bonus share issue.
The bank is also planning to expand its working area from existing 3 districts to 10 districts once its right share is issued.
The meeting has also selected the 5 directors representing promoter shareholders group namely Chet Prasad Bhattarai, Mahendra Prasad Goyal, Rajan Sharma, Hem Raj Dhakal and Ganesh Prasad Khanal.
The bank has earned Rs 6.1 crore net profits in last FY 2070/71 has total deposit of Rs 2.61 billion and mobilized Rs 2.30 billion in loan and advances. The bank informed that its paid up capital will increased to Rs 25.50 crore once bonus share and right share amount is adjusted.
