Universal Power Company Limited (UPCL) has announced that it will give its shareholders a 9% bonus share and a 0.4737% cash dividend. The Annual General Meeting (AGM) is scheduled for Poush 29, 2082, at Durbar Restro Hotel & Party Venue in Tikhedewal, Lalitpur, starting at 10:00 AM.
The company’s board approved this plan on Bhadra 29, 2082. The bonus shares are worth about Rs. 20.51 crore, while the cash dividend is around Rs. 1.07 crore. The cash portion will mainly be used to pay taxes on the bonus shares. These dividends come from the profits of fiscal years 2079/80, 2080/81, and 2081/82.
The AGM will also discuss other matters, including the auditor’s report, financial statements for FY 2081/82, the appointment of a new auditor for FY 2082/83, and the election of two board members along with an independent director.
After distributing the bonus shares, UPCL plans to issue rights shares at a 1:1 ratio (100% rights issue) based on the adjusted paid-up capital. This proposal requires prior approval from the Electricity Regulatory Commission and final approval from the AGM. The funds raised through the rights issue will be used to invest in other hydropower projects.
The company has set Ashwin 8 as the book closure date. Shareholders who are registered before this date will be eligible to receive the dividend and attend the AGM.
