Agriculture Development Bank to distribute 10.53 percent dividend

Agricultural Development Bank Limited has proposed a total dividend of 10.53% from its profit for the last fiscal year 2023/24.

During a board meeting held yesterday, the company decided to distribute a 3% bonus share and a 7.53% cash dividend (including taxes), based on its current paid-up capital of Rs. 13.45 billion.

The proposed dividend will be distributed after approval from Nepal Rastra Bank and subsequent endorsement at the company’s upcoming Annual General Meeting (AGM). This decision marks a resumption of dividend distribution after the company refrained from offering any dividends to investors in the previous fiscal year of 2022/23.

The company had distributed a 13% dividend in FY 2021/22, which included 2% bonus shares and 11% cash dividend for tax purposes.