Arun Kabeli Power convenes its 11th AGM; endorses 17.89% dividend and 100% right shares to its shareholders

Arun Kabeli Power Company has convened its 11^th AGM for the FY 2077-78 under the leadership of its chairman Mr. Guru Prasad Neupane on Bhadra 26, 2078.

The AGM has endorsed the board’s proposal to provide 17% bonus shares and 0.89% cash dividends for taxation purposes to its shareholders. the AGM also endorsed the proposal to float 1:1 right share to the shareholders following which the amount thus collected would be utilized to pay the outstanding bank loan which will thereby enable the company to provide a more handsome dividend in the coming days, as per the media statement.

The AGM has endorsed all the financial reports of the hydro company for the previous fiscal year as presented by the chairman. The AGM also endorsed the board’s proposal to appoint G. and Associate as the external auditor of the company for the current fiscal year.

AKPL has been producing and selling 25 MW hydro energy from its project located at Kabeli river in province 1 and has generated revenue of Rs 70.67 crore solely through trading of the electricity during the last fiscal year, as per the media statement.