Kamal Universal Power Company Limited (UPCL) has announced the distribution of 9% bonus shares and a 0.4737% cash dividend to its shareholders. The company has scheduled its Annual General Meeting (AGM) for 29th Poush, 2080, at Durbar Restro Hotel & Party Venue, Tikhedewal, Lalitpur, starting at 10:00 AM.
Dividend Details
The decision was approved during the Board of Directors’ meeting held on 29th Bhadra, 2082. The dividend distribution will be made from accumulated profits of the last three fiscal years—FY 2079/80, FY 2080/81, and FY 2081/82.
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Bonus Shares: Worth Rs. 20.51 crore (9%)
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Cash Dividend: Worth Rs. 1.07 crore (0.4737%)
The cash portion will primarily cover taxes on the proposed bonus shares.
Key AGM Agendas
The upcoming AGM will also discuss and endorse several important agendas, including:
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Approval of the auditor’s report, along with profit & loss statements, financial statements, and cash flow statements for FY 2081/82.
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Appointment of an auditor for FY 2082/83.
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Election of two board members.
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Approval of the appointment of an independent director.
Rights Share Plan
Following the distribution of bonus shares, UPCL also plans to issue rights shares in a 1:1 ratio, based on the adjusted paid-up capital. This proposal is subject to pre-approval from the Electricity Regulatory Commission (ERC) and final approval at the AGM. The funds raised from the rights issue will be invested in new hydropower projects, supporting the company’s expansion plans.
Book Closure
The book closure date is set for Ashwin 8, 2082. Shareholders who held shares before this date are eligible for the dividend distribution and can participate in the AGM.
