Category: Dividend

  • Reliable Nepal Life Insurance (RNLI) Announces 16.84% Dividend and AGM Plans for Fiscal Year 2079/80

    Reliable Nepal Life Insurance (RNLI) Announces 16.84% Dividend and AGM Plans for Fiscal Year 2079/80


    Reliable Nepal Life Insurance Limited (RNLI) has scheduled its 7th Annual General Meeting (AGM) to take place on the 29th of Magh, 2080. The venue for the meeting is Lisara Banquet in Gyaneshwor, Kathmandu, commencing at 11 AM on the specified day.

    One of the key items on the AGM’s agenda is the approval of a 16.84% dividend for the fiscal year 2079/80. This decision was made during the 126th board of directors meeting on Poush 24. The proposed dividend, to be distributed on the paid-up capital of Rs. 4 Arba, includes a 16% bonus shares valued at Rs. 64 crore and a 0.84% cash dividend amounting to Rs. 3.36 crore. The allocation of a cash dividend is intended to cover the tax amount on the bonus shares.

    Additionally, the AGM will address various matters such as endorsing the auditor’s report, which encompasses Profit and Loss statements, financial reports, and cash flow reports. The appointment of an auditor for the fiscal year 2080/81 is also slated for approval. Furthermore, there will be discussions on approving the allowances for the board of directors and the election of 2 directors from the public shareholding group.

    The book closure date for entitlement to the dividend payout and participation in the AGM is set for Magh 15. Shareholders who maintain their positions before this date are eligible for the proposed dividends and can actively participate in the AGM proceedings.

  • Arun Valley Hydropower Announces 100% Right Share Issuance

    Arun Valley Hydropower Announces 100% Right Share Issuance


    Arun Valley Hydropower Development Company Limited (AHPC) has announced that the book closure date for its 100% right shares is set for the 15th of Magh, 2080. This means that only shareholders maintained until Magh 14 will be eligible to participate in the rights offering. The company plans to issue 100% right shares with a total value of Rs. 1.86 Arba by distributing 18,679,626 units of right shares to its existing shareholders. Currently, the paid-up capital of the company stands at Rs. 1.86 Arba. Following the adjustment for the proposed right share issuance of 1.86 crore units, the company’s paid-up capital is expected to double to Rs. 3.72 Arba.

    Muktinath Capital Limited has been appointed as the issue manager for this offering. As of the latest information available, AHPC’s Last Traded Price (LTP) is recorded at Rs. 280.90.

    In summary, AHPC is making a significant move by offering its existing shareholders the opportunity to acquire additional shares through a 100% right share issuance, thereby aiming to increase its paid-up capital to Rs. 3.72 Arba. The appointment of Muktinath Capital Limited as the issue manager adds a professional touch to the process, and the current market price of AHPC shares is Rs. 280.90.

  • Muktinath Bikas Bank’s 17th AGM: Approves 10.26% Dividend and Elects New Board of Directors

    Muktinath Bikas Bank’s 17th AGM: Approves 10.26% Dividend and Elects New Board of Directors


    Muktinath Bikas Bank effectively conducted its 17th Annual General Meeting in Pokhara on the 28th day of Poush, 2080 B.S. During the meeting, the approval was granted for the annual report of the fiscal year 2079/80, and a dividend distribution of 10.26% to shareholders was endorsed. This dividend comprises 9.75% in bonus shares and 0.51% in cash dividends to facilitate tax considerations.

    In the course of the event chaired by Mr. Bharat Raj Dhakal, the Chairman of the Bank’s Board of Directors, Mr. Gajendra Man Shrestha, a Board member, delivered a welcoming speech. Mr. Pradyuman Pokharel, the Bank’s CEO, shared insights into the current status and future strategies. The meeting also provided a platform for addressing queries and suggestions from shareholders, drawing on information from the annual report.

    Additionally, the Annual General Meeting resulted in the election of a new Board of Directors, featuring individuals such as Mr. Bharat Raj Dhakal, Mr. Narayan Kumar Shrestha, Mr. Bharat Prasad Lamsal, Mr. Vinod Kumar Sharma, and Mrs. Saroja Shrestha (Koirala). The confirmation of this selection was conducted by Mr. Til Bahadur Gurung, the Chief Information Officer of the bank.

  • Mahalaxmi Bikas Bank Holds 20th Annual Meeting, Approves Cash Dividend and Plans for Future Growth

    Mahalaxmi Bikas Bank Holds 20th Annual Meeting, Approves Cash Dividend and Plans for Future Growth


    Mahalaxmi Bikas Bank Limited (MLBL) successfully concluded its 20th Annual General Meeting under the theme “Sabal Bank, Safal Sahakarya” at Lainchaur Banquet in Kathmandu. The meeting, led by Mr. Rajesh Upadhyay, Chairman of the Bank’s Executive Committee, undertook a comprehensive review of the financial performance for the fiscal year 2079/80. This assessment included a thorough examination of audited statements, profit and loss accounts, and cash flow details. Notably, a key highlight was the unanimous approval of a proposal to distribute a 6.40% cash dividend to shareholders based on the profits of the fiscal year.

    Beyond financial matters, the meeting also reached a consensus on a proposal to explore potential strategic partnerships or investments with foreign banks and financial institutions. Additionally, the appointment of J.B. Rajbhandari and DiBins Chartered Accountants for the audit of the fiscal year 2080/81 received approval. The gathering further gave unanimous consent to amendments made to the bank’s management paper and regulations, reflecting a collaborative decision-making process during the Annual General Meeting.

  • NLG Insurance Proposes 5.79% Dividend for Fiscal Year 2079/80

    NLG Insurance Proposes 5.79% Dividend for Fiscal Year 2079/80


    NLG Insurance Company Limited (NLG) has proposed a dividend of 5.78947% for the fiscal year 2079/80. In the 422nd meeting of the board of directors held on Poush 29, the decision was made to distribute this dividend on the paid-up capital of Rs. 1,45,92,75,791. The proposed dividend includes 5.5% bonus shares valued at slightly over Rs. 8.02 crores and a 0.28947% cash dividend (for tax purposes) amounting to Rs. 42.24 lakhs. It’s important to note that the distribution of the dividend is contingent upon approval from the Nepal Insurance Authority and endorsement during the company’s upcoming Annual General Meeting (AGM). NLG’s closing stock price last Thursday was Rs. 845.40.

    The dividend history of NLG indicates its consistent efforts to reward shareholders. The graphical representation illustrates the company’s commitment to providing returns to its investors over time.

  • Himalayan Everest Insurance Sets AGM on 25th Magh to Approve 15% Dividend; Book Closure Date?

    Himalayan Everest Insurance Sets AGM on 25th Magh to Approve 15% Dividend; Book Closure Date?


    Himalayan Everest Insurance Limited (HEI) has scheduled its 30th Annual General Meeting (AGM) for February 25, 2080. The meeting will take place at Baneshwor Banquet in Thapagaun, starting at 11 AM.

    One of the key items on the AGM agenda is the approval of a 15% dividend for the fiscal year 2079/80. In a previous board meeting on Poush 25, it was decided to distribute this dividend on the paid-up capital of Rs. 2.30 Arba. The proposed distribution includes 8.63% bonus shares valued at Rs. 19.86 crore and a 6.37% cash dividend (including tax) amounting to Rs. 14.66 crore.

    Additionally, the AGM will cover the endorsement of the auditor’s report, along with profit and loss statements, financial reports, and cash flow reports. The appointment of an auditor for the fiscal year 2079/80 is also on the agenda. Furthermore, there will be discussions about enhancing the facilities and allowances for the board of directors.

     

  • Kisan Laghubitta (KLBSL) Opts Not to Distribute Dividend for FY 79/80

    Kisan Laghubitta (KLBSL) Opts Not to Distribute Dividend for FY 79/80


    Kisan Laghubitta Bittiya Sanstha Limited (KLBSL) has announced the non-distribution of dividends for the Fiscal Year 2079/80. The decision was made during the 127th Board Meeting on Poush 26, 2080. It’s worth noting that this determination is subject to approval from the regulatory authority, Nepal Rastra Bank, and confirmation at the upcoming Annual General Meeting of the company.

    As of the latest update, KLBSL closed at Rs. 785.00.

     

  • Dhaulagiri Laghubitta Bittiya Sanstha Cancels Dividend for FY 2079/80

    Dhaulagiri Laghubitta Bittiya Sanstha Cancels Dividend for FY 2079/80


     

    Dhaulagiri Laghubitta Bittiya Sanstha Limited (DLBS) has recently declared the cancellation of dividend distribution for the Fiscal Year 2079/80. Initially, during the 8th board of directors meeting on Kartik 22, the company had proposed a distribution plan of 14.25% bonus shares and 0.25% cash dividend (for tax purposes) from the paid-up capital, which amounted to Rs. 10.31 crores. However, the company has now decided not to proceed with the dividend distribution, revoking the earlier announcement of bonus shares worth Rs. 1,89,66,750 and a cash dividend for tax purposes amounting to Rs. 9,98,250.

     

  • Upper Tamakoshi Hydropower Limited Initiates Auction for Unclaimed Right Shares

    Upper Tamakoshi Hydropower Limited Initiates Auction for Unclaimed Right Shares


    Upper Tamakoshi Hydropower Limited (UPPER) is currently conducting an auction for its unclaimed right shares, which commenced on the 13th of Poush and is scheduled to conclude on the 29th of Poush, 2080. The auction involves 1,70,19,530 units of ordinary right shares, representing the remaining portion of the rights offering issued by the company. The rights offering, in a 1:1 ratio, occurred between the 18th of Bhadra and the 22nd of Ashwin, 2080, where a total of 105,900,000 shares were issued. Eligible shareholders were allotted 8,88,80,470 shares, leaving 1,70,19,530 shares unclaimed. The ongoing auction is managed by Sunrise Capital Limited.

    The minimum bid rate for the auction is set at Rs. 100, with a minimum bid quantity of 100 units and a maximum bid quantity of 5,00,000 units. After the adjustment of the proposed right share, UPPER’s paid-up capital will increase to Rs. 21.18 Arba.

    In its recent financial report for the first quarter of the fiscal year 2080/81, UPPER reported a net profit of Rs. 1.00 Arba, resulting in an annualized earnings per share of Rs. 25.20. The net worth of the company stands at Rs. 60.97, with Rs. 73.01 Arba in long-term loans and Rs. 3.04 Arba in short-term loans.

    Upper Tamakoshi Hydropower Limited closed at Rs. 198 per share on January 9th, with a 52-week high of Rs. 590 and a low of Rs. 190. Established in 2007 by the Nepal Electricity Authority, UPPER is a key player in the hydropower sector, focusing on the Upper Tamakoshi Hydroelectric Project.

    The decision to issue 100% right shares aims to strengthen UPPER’s financial position amid challenges faced during the construction of the Upper Tamakoshi Hydroelectric Project. Unforeseen circumstances and a prolonged construction period led to increased costs, prompting the issuance of right shares to address rising interest expenses. The issuance was approved during the 14th Annual General Meeting in 2079, aligning with the company’s commitment to financial restructuring and stability.

    The construction phase of the project initially had a loan-to-equity ratio of 70% to 30%, but the evolving financial landscape and increased costs necessitated a shift in this ratio. The proposed right shares will contribute to stabilizing the company’s financial health and facilitate further growth opportunities. UPPER aims to fulfill its financial requirements, ensuring it remains well-positioned to navigate future challenges and contribute significantly to Nepal’s energy sector.

    Regarding the company’s capital across fiscal years, after the adjustment of 100% right shares, UPPER’s authorized capital for 2080/81 stands at Rs. 30 Arba, with issued and paid-up capital also at Rs. 21.18 Arba. The Mathillo Tamakoshi Jalbidhyut Yojana, a run-of-river type project, is the flagship project with a maximum output of 456 MW.

    The management team, led by CEO Mr. Mohan Prasad Gautam, oversees various aspects of the company’s operations. The board of directors plays a crucial role in guiding UPPER’s strategic decisions.

    In conclusion, UPPER’s move to issue 100% right shares presents an opportunity for investors to acquire shares at a lower price. The ongoing auction of unclaimed right shares provides investors with a chance to participate and potentially enhance returns. Existing shareholders can consider averaging their cost price through this opportunity.

  • SEBON Approval: Ridi Power and Arun Valley Hydropower Set to Issue Right Shares for Expansion

    SEBON Approval: Ridi Power and Arun Valley Hydropower Set to Issue Right Shares for Expansion


    “The Securities Board of Nepal (SEBON) has given the green light to the rights offering proposals of two hydropower companies, Ridi Power Company Limited (RIDI) and Arun Valley Hydropower Development Company Limited (AHPC). Ridi Power Company plans to issue 50% right shares, totaling Rs. 77.44 Crores, equivalent to 7,744,506 units, to its existing shareholders. This move aims to fund the investment in the Tallo Balephi hydropower project of Sajha Power Development Company. The company’s current paid-up capital of Rs. 1.54 Arba will increase to Rs. 2.32 Arba after the adjustment of the proposed right shares. Muktinath Capital Limited will serve as the issue manager. As of the latest update, RIDI’s closing share price is Rs. 221.00.

    Similarly, Arun Valley Hydropower Development Company is set to issue 100% right shares, amounting to Rs. 1.86 Arba or 18,679,626 units, to its existing shareholders. This move is intended to finance investments in the Likhu Khola Hydropower Project and repay loans associated with the Kabeli ‘B’-1 Cascade Hydropower Project. After the adjustment, the company’s paid-up capital will rise from Rs. 1.86 Arba to Rs. 3.72 Arba. Muktinath Capital Limited is appointed as the issue manager for AHPC. The current closing share price for AHPC is Rs. 236.60.”

  • Narayani Development Bank (NABBC) Granted SEBON Approval for Rs. 26.24 Crores Rights Offering

    Narayani Development Bank (NABBC) Granted SEBON Approval for Rs. 26.24 Crores Rights Offering


    The Securities Board of Nepal (SEBON) has granted approval to Narayani Development Bank Limited’s (NABBC) rights offering proposal on Poush 19, 2080. The bank is set to issue 100% right shares with a total value of Rs. 26.24 Crores, distributing 26,24,676 units (1:1) of right shares among its existing shareholders. Currently holding a paid-up capital of Rs. 26.24 crore, the company’s capital will witness an increment to Rs. 52.4 Crores after the adjustment for the proposed right shares. The responsibility of managing the issue has been entrusted to Global IME Capital Limited, with the application initially submitted to the board on Bhadra 9, 2079. As of the latest update, NABBC’s closing stock price stands at Rs. 396.10.

  • Citizen Life Insurance Company Prepares for 7th AGM, Proposing a 5.2632% Dividend for FY 2079/80

    Citizen Life Insurance Company Prepares for 7th AGM, Proposing a 5.2632% Dividend for FY 2079/80


    Citizen Life Insurance Company Limited (CLI) has scheduled its 7th Annual General Meeting (AGM) for the 14th of Magh, 2080. The venue for the meeting is Amrapali Banquet, Naxal, Kathmandu, and it is set to commence at 11 AM on that day.

    One of the key agendas for the AGM is the endorsement of a 5.2632% dividend for the fiscal year 2079/80. This proposal comes from the 97th board of directors meeting held on Poush 16. The suggested dividend includes 5% bonus shares and a 0.2632% cash dividend, amounting to Rs. 18.75 crores and Rs. 98.68 lakhs, respectively. The company’s existing paid-up capital stands at Rs. 3.75 Arba.

    Additionally, the AGM will address other important matters, including the approval of the auditor’s report with profit and loss statements, financial reports, and cash flow reports. The appointment of an auditor for the fiscal year 2080/81 and the election of 2 directors from the public shareholding group are also on the agenda.

    The book closure date for entitlement to the dividend payout and attendance at the AGM is set for Poush 29. Shareholders who maintain their status before this date are eligible for the dividend.