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