United Modi Hydropower Holds 12th AGM, Approves 7.36842% Dividend

United Modi Hydropower Limited successfully held its 12th Annual General Meeting in Kathmandu under the chairmanship of Nabin Silwal. The meeting approved a 7.36842 percent dividend, including 7 percent bonus shares and 0.36842 percent cash dividend for tax purposes.

The AGM also elected Renuka Pandey and Prapti Adhikari as board members and endorsed the company’s annual and financial reports for fiscal year 2081/82. Shareholders approved several special proposals, including plans to transform the company into a holding company, amend its memorandum and articles of association, increase issued capital, and proceed with rights share issuance. The board was also granted authority to complete necessary regulatory procedures with concerned agencies.

During the meeting, shareholders welcomed the dividend announcement and encouraged the management to continue distributing returns in the current fiscal year as well. The company has been operating the 10 MW Lower Modi-1 Hydropower Project in Kushma Municipality-8, Parbat, since Mangsir 9, 2069 BS.