Shangrila Development Bank Approves 10.52% Dividend, Elects Six-Member Board
Shangrila Development Bank has approved a 10.52% dividend at its 22nd AGM, comprising a 6.52% cash dividend and 4% bonus shares.
Shangrila Development Bank Limited (SADBL) has approved a total dividend of 10.52% for its shareholders at its 22nd Annual General Meeting (AGM). The dividend consists of a 6.52% cash dividend and a 4% bonus share distribution.
The bank will distribute Rs. 24.37 crore as cash dividends and Rs. 14.94 crore worth of bonus shares. Following the issuance of bonus shares, the bank’s paid-up capital will increase from Rs. 3.73 billion to Rs. 3.88 billion.
The AGM also elected a six-member board of directors unopposed for a four-year term. Ujjwal Satyal, Sushil Kaji Baniya, and Shyam Kumar Sharma were elected as representatives of promoter shareholders. Bishnu Prasad Dhakal, Krishna Prasad Regmi, and Bhawana Agrawal were elected to represent public shareholders.
Following the election, the new board re-elected Ujjwal Satyal as chairman. Satyal and Baniya have continued from the previous board, while the other four members are new additions.