Last day to secure dividend of two development banks

Nov 26, 2023 08:46 AM Merolagani

Today is the last day to secure dividend of two development banks including Shangrila Development Bank (SADBL) and Shine Resunga Development Bank.

The banks are closing their books on November 27 for their respective annual general meetings (AGM), thus, the shareholders registered in their books till November 26 will be eligible to attend the AGM and obtain the announced dividend.

Shangrila Development is conducting its 19th AGM on December 10 in Lainchaur Banquet, Lainchaur, Kathmandu at 11 am.

The meeting will endorse a proposal of distributing 5 percent stock and 0.263 percent cash dividend to its shareholders. Similarly, the meeting will amend article and memorandum of association, forward merger/acquisition with suitable partners and appoint an auditor for upcoming FY.

Similarly, Shine Resunga Development Bank (SHINE) is conducting its AGM on December 9 in Dreamland Gold Resort and Hotel, Manigram, Rupandehi at 11 am.

The meeting will approve a proposal to distribute 10.50 percent stock and 0.55 percent cash dividend to its shareholders.

Moreover, the meeting will approve proposals of increasing authorized capital and amend its article and memorandum of association and delegate authority to BOD to forward merger/acquisition with suitable partners.

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