Bindhyabasini Hydropower Announces 5% Bonus and 0.2632% Cash Dividend, Calls AGM with 100% Rights Issue Proposal
Bindhyabasini Hydropower Development Company Limited has announced a 5% bonus share and a 0.2632% cash dividend for tax purposes from last fiscal year's profit. The company has called its 10th Annual General Meeting on Kartik 18 to approve proposals including a 100% rights share issuance.
Kathmandu — Bindhyabasini Hydropower Development Company Limited has announced dividends to be distributed to its shareholders from the profit of the last fiscal year. The company has also convened its 10th Annual General Meeting (AGM).
The company has announced a 5 percent bonus share on its current paid-up capital. To approve the proposal, the company has decided to hold the meeting on Kartik 18, Wednesday, at Anmol Banquet, Shankhamul, Kathmandu. The meeting will begin at 9:30 AM.
The meeting will pass a proposal to distribute a 0.2632 percent cash dividend for the tax purpose of the proposed bonus and bonus shares. Likewise, the meeting will also approve the following proposals:
- Issuing a hundred percent (100%) rights shares
- Amending the Memorandum of Association and Articles of Association
- Issuing debentures convertible into ordinary shares
- Appointing an auditor
The company will conduct a book closure on Kartik 10 for one day for the purpose of the AGM and dividend distribution. Accordingly, shareholders holding shares traded on NEPSE until Kartik 9 will be able to participate in the company's meeting and receive the proposed dividend.