19th December 2024, Kathmandu
Agriculture Development Bank Limited (ADBL) has announced a dividend for the fiscal year 2023/24. The decision was made by the bank’s board of directors during a meeting on 13 December.
ADBL Declares Dividend Bonus Cash
Breakdown of Dividend: Bonus Shares and Cash
The announced dividend will be allocated as follows:
Bonus Shares: 3% of the total paid-up capital will be distributed as bonus shares.
Cash Dividend: 7.53% will be provided as a cash dividend, which will include the necessary provisions for taxes on the payout.
Preference Shares Dividend Decision
Alongside the regular dividend, the board of directors has also approved an annual cash dividend of 6% on the non-redeemable preference share capital. This decision reflects the bank’s ongoing strategy to ensure consistent and strong returns for its investors.
By offering dividends across different share classes, the bank aims to reward all stakeholders and maintain investor confidence, further strengthening its financial position and appeal in the market.
Approval Process: Nepal Rastra Bank and AGM
The proposed dividend is still pending approval from Nepal Rastra Bank. After this, the dividend will be presented for final approval at the upcoming Annual General Meeting (AGM). Once the approvals are in place, the dividend will be distributed to shareholders.
Looking Ahead: Shareholders’ Benefits
This dividend announcement underscores the Agriculture Development Bank’s strong financial performance and continued commitment to rewarding its shareholders.
The approval process is underway, and shareholders can look forward to receiving their dividends once all necessary approvals are secured. This announcement further solidifies the bank’s position as a reliable financial institution in Nepal.
For more: ADBL Declares Dividend Bonus Cash
