Shangrila Development Bank Calls AGM on Poush 7 to Approve 10.3583% Dividend Distribution

Shangrila Development Bank Limited (SADBL) has announced that it will convene its 21st Annual General Meeting (AGM) on Poush 7, 2082, to endorse the dividend proposed from the profit of the previous fiscal year. The AGM is scheduled to take place at Amritbhog Caterers, Kalikasthan, Kathmandu, beginning at 10:30 AM.

The meeting will approve a total dividend of 10.3583%, which includes 5% bonus shares and 5.3583% cash dividend allocated for tax purposes. Additionally, the AGM will discuss amendments to the bank’s Memorandum and Articles of Association, grant authority to the Board of Directors to explore merger and acquisition opportunities with suitable BFIs, and appoint an auditor for the upcoming fiscal year.

For the purpose of the AGM and dividend distribution, the bank has announced a book closure period from Mangsir 23 to Poush 7. Therefore, shareholders who hold shares traded until Mangsir 22 in NEPSE will be eligible to participate in the AGM and claim the declared dividend.