Kathmandu. KATHMANDU: Shangrila Development Bank has proposed a total dividend of 10.52 percent to its shareholders from the profit of FY 2082/83. The 397th Board of Directors meeting of the bank held on August 17 has proposed the dividend.

The bank is issuing dividend on the basis of its paid-up capital of Rs 3.73 billion. Out of the total dividend, 4% will be bonus shares and 6.5263% will be cash dividend.

The bank will issue 4% bonus shares worth Rs 14,93,62,740.22. Similarly, Rs 24,36,97,102.47 has been allocated for 6.5263 per cent cash dividend.

According to the bank, the cash dividend includes tax on bonus shares and cash dividend. The bank has proposed a total dividend of Rs 39,30,59,842.69 including bonus shares and cash dividend.

The board of directors of the bank has decided to submit the financial details of the bank along with the proposed dividend to Nepal Rastra Bank for final approval. The proposed dividend is subject to approval from the Nepal Rastra Bank and endorsement from the upcoming Annual General Meeting (AGM) of the bank.

Before this, the bank has to complete the necessary financial and regulatory process for the distribution of dividend. After the approval of the proposal from the AGM, the shareholders will receive the dividend until the specified date.