Shangrila Development Bank Limited (SADBL) has announced its 19th Annual General Meeting (AGM), scheduled for the 24th day of Mangsir, 2080. The meeting is set to take place at Lainchaur Banquet in Kathmandu, commencing at 11 AM.
One of the significant agendas for the AGM is the endorsement of a 5.263% dividend amounting to Rs. 17.19 crores for the fiscal year 2079/80. This decision was made during a board of directors meeting held on Kartik 03. The proposed dividend will be distributed based on the paid-up capital of the bank, which stands at Rs. 3.26 Arba. The distribution includes 5% bonus shares and 0.263% cash dividend for tax purposes, translating to slightly over Rs. 16.33 crores and a little over Rs. 85.98 lakhs, respectively.
Additionally, the AGM will address the endorsement of the auditor’s report, covering Profit and Loss statements, financial reports, and cash flow reports for the fiscal year 2079/80. Plans for the appointment of an auditor for the fiscal year 2080/81 are also on the agenda. The meeting will also seek approval for the revision of the Articles of Association, as the issuance of bonus shares will lead to an increase in the paid-up capital.
The book closure date for the proposed dividend and the AGM is set from the 11th to the 24th day of Mangsir, 2080. Shareholders recorded within this period are eligible for the dividend payout and are invited to attend the AGM.