LBL to distribute bonus shares tomorrow, ADBL to dole out dividend from Wednesday

ShareSansar, June 2:

Laxmi Bank Limited will start distributing 15 percent bonus shares it had pledged to the shareholders from the profit it posted in the last fiscal year 2069/70 from tomorrow.

Similarly, Agricultural Development Bank Limited (ADBL) has decided to start distributing 31.58 percent cash dividend it had approved for the last fiscal year from Wednesday.

Annual General Meeting of the two commercial banks had formally endorsed their respective dividend earlier this year.

Issuing a notice today, Laxmi Bank has further informed that 5 percent tax on bonus shares will be collected from the shareholders.

It has urged the shareholders to approach its RTS Laxmi Capital Market Limited from 10:00 AM to 3:00 PM from Sunday to Thursday and from 10:00 AM to 1:00 PM on Fridays to collect the bonus shares.

The 13th AGM of the bank held back on March 27 had also endorsed 25 percent right shares besides approving 15 percent bonus shares to the shareholders from the net profit it posted in the last fiscal year 2069/70.

The bank is however yet to announce the date to distribute the right shares.

Issuing a notice today, ADBL has also appealed to its shareholders to contact its TRS Ace Capital Limited to collect the cash dividend.

Since the bank has more than 2 lakh shareholders, it has stated that the dividend can be collected from the office of Ace Capital Limited at Lal Colony, Lal Durbar as well as the office of Ace Development Bank Limited at Narayan Chaur in Naxal from from 10:00 AM to 3:00 PM from Sunday to Thursday and from 10:00 AM to 1:00 PM on Fridays.

The seventh AGM of the state-run bank held on May 23 had formally endorsed 31.58 percent cash dividend to the ordinary share holders and 6 percent cash dividend for the preferential shares.