The board of directors of Shangri-la Development Bank has proposed a 10.5263 percent dividend for its shareholders from the accumulated profit of the fiscal year 2082/83.
Shangri-la Development Bank has announced that they will distribute dividend to their shareholders. The board of directors meeting of bank held on Monday made the decision to distributing both bonus shares and cash dividend from the accumulated profit of the fiscal year 2082/83.
Details of the Dividend
Currently, paid-up capital of bank is Rs 3 arba 73 crore 40 lakh 68 thousand 505 and 53 paisa. Based on this capital, the total proposed dividend amount equals to Rs 39 crore 30 lakh 59 thousand 842 and 69 paisa.
Out of this total proposed dividend, the bank has decided to give 4 percent in bonus shares. This means bonus shares worth Rs 14 crore 93 lakh 62 thousand 740 and 22 paisa will be distributed to the shareholders.
Alongside the bonus, the bank has also proposed a 6.5263 percent cash dividend. The bank has allocated Rs 24 crore 36 lakh 97 thousand 102 and 47 paisa for this cash distribution. This cash dividend amount already includes the tax amount required for both bonus shares and the cash dividend itself.
Approval Process
The bank has stated that they will submit the proposed dividend and the financial statements to Nepal Rastra Bank for final approval. If the central bank suggests any changes or gives directions, those will be included before putting the proposal in the upcoming Annual General Meeting.
The shareholders will receive their dividend only after Nepal Rastra Bank approves it and the upcoming AGM of the bank passes the proposal.</p.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
