Kathmandu. Barun Hydropower Company in the last fiscal year 2082. has declared a dividend for 83.
The meeting of the Board of Directors of the company held on Monday decided to distribute a total dividend of Rs 1,22,25,32,425 to the shareholders for the current financial year. This includes bonus shares worth Rs 5,33,20,290.18 per cent i.e. 4.75 per cent and cash dividend of Rs 2,806,331.06 per cent for tax purposes.
Similarly, the meeting of the Board of Directors has also decided to convene the 23rd Annual General Meeting (AGM) on November 5 to approve the dividend. The meeting will begin at 9:30 am at Smart Palace in Shankhapark, Kathmandu.
The shareholders will receive the dividend after the meeting approves it. The meeting will pass a special resolution to amend the Memorandum of Association and the Articles of Association accordingly as the issued and paid-up capital will increase after the distribution of bonus shares. The meeting will approve a proposal to authorize the Board of Directors to amend the Memorandum of Association and Regulations, if any, received from the regulatory body.
The AGM will also endorse a special proposal of issuing 100% right shares in the ratio of 1:1 of the paid-up capital of Rs 1.17 billion after the bonus share distribution.
The same meeting shall approve the annual and auditor’s report for the previous financial year. The meeting shall approve the current fiscal year 2083. The resolution for the appointment of the auditor and fixation of his remuneration for the year 84 shall be passed. The meeting shall also approve the appointment of directors.
The company has decided to close the book on October 26 for the purpose of dividends and meetings. This means that only the shareholders who have been in possession before October 26 will be eligible to receive the dividend and attend the meeting.
