Shangrila Dev. Bank declares 20.85% stock dividend

Editor's Note: Earlier the notice on NEPSE's website had  mentioned a stock dividend of 28% from Shangrila Development Bank which was later rectified to 20.85%. Shangrila Development Bank Limited (SADBL) has decided to distribute 20.85 percent bonus share to its shareholders. The BOD Meeting of the company held on Mangsir 15 has proposed 20.85 percent bonus share to its shareholders from the net profit it earned in the last fiscal year 2071/72. The decision is subject to approval from Nepal Rastra Bank and the Bank’s upcoming Annual General Meeting (AGM). Earlier in the fiscal year 2070/71, Shangrila Development Bank had distributed 15 percent bonus share and 6.30% cash dividend to their shareholders SADBL paid up capital remains at Rs. 73.60 crore. After distributing 20.85 percent bonus share it’s paid up capital will rise to Rs. 88.90 crore.