Api Power Company Limited Proposes 5.2632% Dividend; Plans 30% Right Shares Issue

Api Power Company Limited (API) proposes a 5.2632% dividend for FY 2081/82. The company has called its 22nd AGM for 29th Poush, 2082. The meeting will be held at 11:00 AM that day in the Karki Banquet, Babarmahal, Kathmandu.

The 4th meeting of the board of directors held on Poush 07 has proposed a 5.2632% dividend for the fiscal year 2081/82. A 5% bonus share and a 0.2632% cash dividend (including tax) have been proposed. The paid-up capital of the company is Rs. 6.07 Arba.

Furthermore, an agenda is to endorse the auditor's report with PL statements, financial reports, and cash flow reports, and appoint an auditor for the fiscal year 2082/83.

Following the issuance of the bonus shares, the company plans to issue rights shares in a 1:0.30 ratio based on the adjusted paid-up capital. The proposal, subject to prior approval from the Electricity Regulatory Commission, will be presented for final approval at the company’s upcoming Annual General Meeting. The proceeds from the rights issue will be invested in other hydropower projects.

The book closure date is on Poush 18. Therefore, the shareholders who maintained before that day are entitled to dividend payout, and can attend this AGM.