Nepal Hydro Developer calls for 15.79 percent dividend

Kathmandu , March 23

Nepal Hydro Developer Limited has proposed a total dividend of 15.79 percent from the accumulated profit of the last fiscal year 076/77.

A meeting of the Board of Directors of the company held at 4 pm on March 6 raised the existing paid-up capital to Rs 260 million. It has proposed to distribute 15 percent bonus shares and 0.79 percent cash dividend for tax purposes on the basis of Rs 260 million.

The company has informed that it has proposed 15 percent bonus share for the fiscal year 074/75 by adding the 4 percent bonus proposed by the meeting of the board of directors on December 26, 2075 BS.

Despite the decision to distribute the bonus shares, the company has clarified that the meeting could not be held due to special reasons and there was no book close for it. The proposed dividend will be distributed after the approval of the next annual general meeting of the company.

The company has convened the 12th, 13th and 14th joint annual general meetings on March 29 to approve the proposed dividend. For the purpose of the meeting to be held at 3 pm, the company is going to close the book from March 15 to the day of the meeting. On the basis of book close, only the existing shareholders will be able to receive dividend and participate in the meeting.