Agricultural Development Bank Holds AGM, Approves 13% Dividend

Bhaktapur — Agricultural Development Bank Limited successfully concluded its Annual General Meeting (AGM) for fiscal year 2021/22 (FY 2081/82) on Monday at the bank’s Central Training Institute in Bode, Bhaktapur. The meeting approved the distribution of bonus shares and cash dividends to shareholders.

The AGM endorsed a proposal to distribute a total dividend of 13 percent of the bank’s paid-up capital. This includes 3.25 percent bonus shares and 9.75 percent cash dividend (inclusive of tax) from the profit earned in the previous fiscal year.

During the meeting, the bank highlighted its extensive operational network, noting that it has been providing modern banking services through 285 offices, including the head office, across both remote and accessible regions of the country. The bank also stated that it remains the largest investor in the agricultural sector among Nepal’s commercial banks.

The 19th AGM was held under the chairmanship of Board Chairman Dim Prasad Paudel. Representatives from various institutions attended the meeting, including Mukti Raman Parajuli from the Office of the Financial Comptroller General of the Government of Nepal. A total of nine speakers shared their views during the session, while several shareholders also submitted written statements.

The AGM witnessed strong shareholder participation, along with the presence of representatives from different organizations, senior management officials, employees, and members of the Board of Directors. Board members including Seventak Pokharel, Dr. Hari Bahadur KC, Govinda Prasad Bhattarai, Sanjiv Paudel, Binod Kumar Guragain, and Rita Subedi were present, along with Chief Executive Officer Govinda Gurung.

The meeting was conducted by Company Secretary Himalal Paudel.