Shangrila Development Bank declares 16.07% stock dividend; Paid up to reach Rs 1.24 arba

Shangrila Development Bank Limited (SADBL) has decided to distribute 16.07 percent stock dividend to its shareholders. As per the notice published in Nepal Stock Exchange (NEPSE) today, the company’s BOD meeting held on Mangsir 13, 2073 has proposed 16.07 percent bonus share and 0.85 percent cash dividend (for tax purpose) to its shareholders from the net profit it earned in FY 2072/73. The decision is subjected to approval from Nepal Rastra Bank and the bank’s upcoming Annual General Meeting (AGM). SADBL had distributed 20.85 percent bonus share to its shareholders from the profit it made in the fiscal year 2071/72. Shangrila Development Bank has earned net profit of Rs 4.43 crore in the first quarter of the fiscal year 2073/74 as per unaudited report. It’s paid up capital remains at Rs 1.07 arba. After the issuance of 16.07 percent bonus share the paid up capital will rise to Rs 1.24 arba.