Agricultural Development Bank Limited (ADBL) has recently taken steps to benefit its shareholders by distributing 2% bonus shares directly to their Demat accounts. To encourage a smoother and more convenient process, the bank urges shareholders to convert their physical shares into electronic form. By doing so, shareholders can easily manage and trade their shares online, aligning with the industry trend towards digitalization.
During the bank’s 16th Annual General Meeting held on the 14th of Chaitra, a 13% dividend for the fiscal year 2078/79 was approved. This decision reflects ADBL’s strong financial performance during that period. Additionally, during the 1000th meeting of the Board of Directors, held on Poush 26, it was decided to distribute the dividend based on the paid-up capital of Rs. 13.18 Arba. This distribution included a proposal for a 2% bonus share allocation and an 11% cash dividend.
The allocation of bonus shares allows ADBL to provide its shareholders with additional shares in proportion to their existing holdings. This serves as a way for the bank to share its success with its shareholders and enhance their investment value. The direct deposit of the bonus dividend into the Demat accounts further streamlines the process and offers convenience to shareholders.
In addition to the bonus shares, ADBL has proposed an 11% cash dividend on the paid-up capital of Rs. 13.18 Arba. This cash dividend distribution allows shareholders to receive a portion of the profits in cash, providing them with immediate financial returns. Moreover, the bank has also decided to distribute a 6% cash dividend specifically for Irredeemable Non-cumulative Preference Shares, ensuring that the holders of these shares also receive their fair share of the profits.
ADBL’s recent initiatives, such as the direct allocation of bonus shares and the proposed dividends, aim to reward and benefit its shareholders. By urging shareholders to dematerialize their shares, the bank embraces digitalization trends and facilitates smoother transactions and ownership transfers. Through these measures, ADBL seeks to enhance shareholder value and foster a positive relationship with its investor community.