Agricultural Development 11th AGM today; endorsing 20% bonus share

Agriculture Development Bank Limited (ADBL) is convening 11^th Annual General Meeting (AGM) today (Magh 29, 2074). The AGM is being held at Agriculture Development Bank Central Training Institute, Bode, Bhaktapur at 11:00 AM. The main agendas of the AGM are:

• To endorse 20% bonus shares and 1.053% cash dividends (for tax) to its shareholders from the profit of Rs 2.77 arba it had earned in the FY 2073/74.
• To endorse 6% preference dividend to the preference shareholders.
• To amend the issued and paid up capital of the company.
• To amend the Memorandum of Association (MOA) and Articles of Association (AOA) as per directions received by regulatory bodies

Other agendas of the AGM include major financial highlights of financial statements of the FY 2073/74 and appointment of auditor for the FY 2074/75. The book closure date for the AGM was set from Magh 15 to Magh 29, 2074. Thus, shareholders holding shares till Magh 14, i.e. one day ahead of the book closure date are eligible to participate in AGM and for proposed dividend. Its current paid up capital stands at Rs 7.08 arba which will reach to Rs 8.45 arba after distribution of 20% bonus shares. It had earned Rs 1.02 arba in the second quarter of the FY 2074/75.