Shangri-La Development Bank Urges Shareholders to Claim Uncollected Cash Dividend

Shangri-La Development Bank Limited (SADBL) has issued a public notice urging its shareholders to claim unclaimed cash dividends and for depositors to reactivate dormant accounts.

The bank informed that cash dividends declared in various general meetings up to the fiscal year 2081/82, which have exceeded a five-year claim period, remain unclaimed by some shareholders. Shareholders who have not yet received their pending dividends are requested to contact the bank’s share registrar, NIMB ACE Capital Limited, located in Lazimpat, Kathmandu, to claim their amounts promptly.

In addition, the bank has appealed to depositors whose accounts have remained inactive or dormant for ten years or more to visit their respective branches with the necessary documentation to reactivate their accounts. The notice emphasizes that unclaimed dividends and deposits will be handled according to prevailing laws if not claimed within the stipulated period.

Shangri-La Development Bank has also made the details of unclaimed dividends, shareholders, and dormant accounts available on its official website, for shareholders and depositors to verify their records. Furthermore, accounts with zero balance and no transactions for the past ten years will be closed, and details of such accounts are also available on the bank’s website.

The bank has urged all concerned shareholders and depositors to take prompt action to secure their dividends and reactivate inactive accounts to ensure uninterrupted access to banking services.

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