Shangrila Development Bank to convene its 13th AGM today; Shareholders to receive 2.5% bonus shares and 9.30% cash dividend

Shangrila Development Bank (SADBL) had published a notice regarding its 13th AGM to be held on Ashadh 17, 2075 i.e.today. The meeting is going to be held in Amritbhog, Kalikasthan, Kathmandu from 11:00 AM.

The main agendas of the meeting includes:

1. Distribution of 2.5% bonus shares worth Rs 6,11,30,400 and 9.30% cash dividend for its shareholders
2. Amendment of bank’s authorized, issued and paid-up capital.
3. Necessary amendments in the memorandum of association of the bank and providing the BoD with the authority regarding the same.

The other agendas of the meeting includes issuance of audited financial report for the fiscal year 2073/74, appointment of statutory auditor for the fiscal year 2074/75 and endorsement of the proposed 9.30% cash dividend (on paid up capital of Rs 2,44,30,400) for its shareholders.

For the purpose of receiving the 2.5% bonus shares and 9.30% cash dividend, the shareholders register book had remained closed from Ashadh 04 till Ashadh 17, 2075 i.e. the shareholders holding the shares of the development bank till Ashadh 03, 2075 are only be eligible to receive the bonus shares and cash dividend.

SADBL has earned Rs 25.06 crore in the third quarter of the current fiscal year 2074/75.

The development bank had issued 80% right share for its shareholders taking its paid up capital to Rs 2.44 arba. After the adjustment of bonus shares, its paid up capital will reach Rs 2.50 arba.