Kathmandu. Shangrila Development Bank (SDB) has called its AGM to endorse the dividend proposal announced to be distributed to its shareholders from the profit of the last fiscal year.

The bank has called its 21st Annual General Meeting (AGM) on December 7 at Amritbhog Caterers, Kalikasthan, Kathmandu. The meeting will begin at 10:30 a.m.

The bank is closing its book from December 7 to December 23 for the purpose of AGM and dividend distribution. As per the agreement, the shareholders who have been transacted in NEPSE till December 22 will be eligible to attend the AGM and receive the dividend to be distributed by the bank.

The AGM will endorse a special proposal of distributing 5 percent bonus shares of the current paid-up capital and 5.3583 percent cash dividend for tax purposes.

The meeting will also endorse the proposal to amend the Memorandum of Association and Articles of Association and delegate authority to the Board of Directors to carry out merger/acquisition with other appropriate banks and financial institutions, among others.