Barun Hydropower Declares 5% Dividend, Calls 23rd AGM for Kartik 20
Barun Hydropower Company has declared a total 5% dividend from the profit of the last fiscal year 2082/83. The company has also called its 23rd Annual General Meeting on Kartik 20, which will approve a 1:1 ratio rights share issuance.
Barun Hydropower Company has announced a total 5% dividend to its shareholders from the profit of the last fiscal year 2082/83. The decision was made at a meeting of the Board of Directors held on Ashwin 26.
The declared dividend includes 4.75% bonus shares and 0.25% cash dividend (for tax purposes). Based on the current paid-up capital of Rs 1 arba 12 crore 25 lakh 32 thousand 425:
- Bonus shares worth Rs 5 crore 33 lakh 20 thousand 290.18
- Cash dividend worth Rs 28 lakh 6 thousand 331.06
Similarly, the Board meeting has decided to hold the 23rd Annual General Meeting on Kartik 20 to pass the dividend. The meeting will begin at 9:30 AM at Smart Durbar in Shankhapark, Kathmandu.
After the AGM approves the dividend, shareholders will receive bonus shares. As the issued and paid-up capital will increase after bonus share distribution, the AGM will pass a special proposal to amend the Memorandum of Association and Articles of Association accordingly. It will also approve a proposal authorizing the Board of Directors to make changes as per any suggestions received from the regulatory body regarding the amendment.
The AGM will also pass a special proposal to issue 1:1 ratio, i.e., 100% rights shares, based on the paid-up capital of Rs 1 arba 17 crore 58 lakh 52 thousand 715.18 that will be maintained after bonus share distribution. Additionally, the AGM will approve the annual and auditor's reports for the last fiscal year, appoint an auditor and determine their remuneration for the current fiscal year 2083/84, and approve the appointment of directors.
The company has decided to book close on Kartik 11 for dividend and AGM purposes. This means only shareholders holding shares before Kartik 11 will be eligible to receive the company's dividend and participate in the AGM.