Last day to clinch 17% cash dividend of Excel Development Bank; book closure on Falgun 27

Today is the last day to clinch 17% cash dividend offered by Excel Development Bank Limited (EDBL).

For the purpose of AGM and dividend, the books of the company will remain closed from  Falgun 27 to Chaitra 11, 2075. Investors holding shares of EDBL till Falgun 26, 2075 will be eligible to claim dividend and participate the AGM of the development bank.

Excel Development Bank (EDBL) has decided to convene the 13th AGM of the development bank on 11th Chaitra, 2075 (25th march, 2019) at Hotel Holiday Home, Birtamod, Jhapa from 11 AM onwards.

The agendas of the meeting include endorsement of audited financial statements of FY 74/75 and to appoint statutory auditor for FY 75/76. The AGM will also endorse 17% cash dividend worth Rs.11.77 Crore proposed for the shareholders from the profits of FY 74/75. The AGM will also elect 3 directors from the promoter shareholder group.

The AGM will also endorse the agendas to issue of 55% right shares worth Rs.38.09 Crore.

The authorized capital of the bank will be increased from Rs 1 Arba to Rs 1.50 Arba. The current paid-up capital of the bank stands at Rs.69.26 Crore which will increase to Rs.1.07 Arba after the adjustment of right shares.