Shangrila Development Bank Unveils Book Closure Date for 5.26% Dividend; Calls AGM on Mangsir 24

Shangrila Development Bank Limited (SADBL) has called its 19th AGM on 24th Mangsir, 2080. The meeting will be held at Lainchaur Banquet, Kathmandu, starting from 11 AM that day.

Among the other agendas, the AGM will endorse a 5.263% dividend worth Rs. 17.19 crores for the fiscal year 2079/80. The meeting of the board of directors held on Kartik 03 decided to distribute the dividend on the paid-up capital of Rs. 3.26 Arba. 5% bonus shares and 0.263% cash dividend (tax purposes) have been proposed. Thus, the bonus shares are a little over Rs. 16.33 crores and the cash dividend is worth a little over Rs. 85.98 lakhs.

Furthermore, there is an agenda to endorse the auditor's report with PL statements, financial reports, and cash flow reports for FY 2079/80 and appoint an auditor for the fiscal year 2080/81. The agenda pertaining to the revision of the Articles of Association will also be approved during the meeting, as the issuing of bonus shares will result in an increase in paid-up capital.

The book closure date is from 11th Mangsir to 24th Mangsir, 2080. Thus, shareholders maintained that day are entitled to the dividend payout and can also attend the AGM.