Barun Hydropower Announces 5% Dividend, to Issue 100% Rights Shares, Calls 23rd AGM on Kartik 20
Barun Hydropower Company has announced a total 5% dividend for fiscal year 2082/83, comprising 4.75% bonus shares and 0.25% cash dividend. The company will also issue 100% rights shares in a 1:1 ratio based on post-bonus paid-up capital and hold its 23rd Annual General Meeting on Kartik 20.
Kathmandu. Barun Hydropower Company has announced a dividend for fiscal year 2082/83. The company's Board of Directors, in a meeting held on Monday, decided to distribute a total 5 percent dividend on the current paid-up capital of Rs 1 arba 12 crore 25 lakh 32 thousand 425.
The declared dividend includes 4.75 percent bonus shares (Rs 5 crore 33 lakh 20 thousand 290.18) and 0.25 percent cash dividend for tax purposes (Rs 28 lakh 6 thousand 331.06).
The Board meeting also decided to convene the 23rd Annual General Meeting on Kartik 20 to approve the dividend. The meeting will begin at 9:30 AM at Smart Durbar in Shankhapark, Kathmandu.
Shareholders will receive bonus shares after the AGM approves the dividend. As the issued and paid-up capital will increase after bonus share distribution, the AGM will pass a special proposal to amend the Memorandum and Articles of Association accordingly. The AGM will also approve a proposal authorizing the Board of Directors to make any changes suggested by the regulatory body during the amendment of the Memorandum and Articles of Association.
Likewise, the AGM will pass a special proposal to issue 100 percent rights shares in a 1:1 ratio, i.e., on the paid-up capital of Rs 1 arba 17 crore 58 lakh 52 thousand 715.18 after bonus share distribution.
The AGM will also approve the annual and auditor's reports for the previous fiscal year, appoint an auditor for the current fiscal year 2083/84 and determine their remuneration, and approve the appointment of directors.
For dividend and AGM purposes, the company has decided to close the books on Kartik 11. This means only shareholders holding shares until Kartik 11 will be eligible to receive the company's dividend and participate in the AGM.