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Agricultural Dev Bank to Distribute 15% Bonus Share

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Agricultural Dev Bank to Distribute 15% Bonus Share
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April 27: The 9th AGM of Agricultural Development Bank (ADB) has endorsed the proposal of distributing 15 percent bonus shares from the profit of FY 2071/72 to its shareholders. The meeting has also decided to provide six percent cash dividend and 50 percent right shares from the preference shares of the government. Nearly 200,000 ADB shareholders will be benefited from the decision.

“The bank has paid up capital (including preference share) of Rs 9.86 billion in which general share capital worth Rs 3.42 billion and preference share capital worth Rs 6.43 billion” says Pramod Kumar Karki, Chairman of Board of Directors of the bank. Among the general share capital, the government owns 51 percent of capital amounting Rs 1.74 billion while general shareholders owns 49 percent amounting to Rs 1.67 billion. In the meeting, proposal for forwarding the process to increase paid up capital to minimum 8 billion was also submitted. 

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