Shangrila Development 10th AGM today; 6.30% cash, 15% bonus, 4:1 right shares on offer

ShareSansar April 12:

Shangrila Development Bank Limited is going to conduct its 10th Annual General Meeting on 30th Chaitra (today).

The AGM will be endorsing 6.30% cash dividend and 15% stock dividend to its shareholders from the net profit it earned in last fiscal year 2070/71. AGM is also set to approve 4:1 ratio right share issuance.

The AGM will be held at Amrapali Banquets, Bhatbhateni, Naxal, Kathmandu at 10:30 AM. The other agendas of the meeting are financial highlight 2070/71 and appointment of auditor.

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