Shangri-la Development endorsing 6.3% cash, 15% stock dividends; Book Closure on March 28

ShareSansar, March 27:

Today is the last day for the investors to get hold of the shares of Shangri-la Development to be eligible for the cash dividend and bonus shares that the bank is set to endorse through its AGM.

The bank’s AGM, which will be held on Chait 30, is set to endorse 6.3% cash dividend and 15% bonus shares to its shareholders from the net profit the company earned in last fiscal year 2070/71. The development bank is also issuing right shares at the ratio of 4:1.

The Book Closure is set for March 28, on Saturday.

Investors buying the shares of the Shangri-la Development Bank Limited have till Friday to get the shares registered under their names to be eligible for the dividends.

The bank’s paid up capital, which is at Rs 64 crore right now, will rise to Rs 92 crore after the right shares are fully subscribed. The bank earned a net profit of Rs 76.74 million in its second quarter of the fiscal year 2071/72.