Universal Power Company Limited Declares 9% Bonus Shares and 0.4737% Cash Dividend; Plans 100% Right Shares Issue

Universal Power Company Limited (UPCL) has announced the proposal to distribute a 9% bonus share and a 0.4737% cash dividend to its shareholders. It has called its AGM on 29th Poush, 2080. The meeting will be held in the Durbar Restro Hotel & Party Venue, Tikhedewal, Lalitpur, starting at 10:00 am.

The decision was approved during the company’s Board of Directors meeting held on 29th Bhadra 2082. The bonus shares, amounting to Rs. 20.51 crore, and the cash dividend, totaling Rs. 1.07 crore, will be distributed from the accumulated profits of FY 2079/80, 2080/81, and FY 2081/82. The cash portion will be used for tax purposes on the bonus shares.

There is an agenda to approve and endorse the auditor’s report along with the profit and loss statements, financial statements, and cash flow statements for FY 2081/82, and to appoint an auditor for the fiscal year 2082/83. The agenda also includes electing 2 board of directors and approving the appointment of an independent director.

Following the issuance of the bonus shares, the company plans to issue rights shares in a 1:1 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 Ashwin 8. Therefore, the shareholders who were maintained before that day are entitled can attend this AGM.