Kathmandu —
NRN Infrastructure and Development Limited has proposed the highest dividend in its history.
The company’s board meeting on Kartik 25, 2082, approved a proposal to distribute dividends from the profit of fiscal year 081/82. Based on the current paid-up capital of Rs. 1.284 billion, the proposal includes:
40% bonus shares
2.105% cash dividend (for tax purposes)
The company had previously approved a 100% rights share issuance at its last Annual General Meeting. Since the rights shares have not yet been issued, the company now proposes to issue 100% rights shares based on the paid-up capital after distributing the 40% bonus shares.
To approve these proposals, the company has called its 13th Annual General Meeting (AGM) on Poush 4. The meeting will start at 9:00 AM at Amrapali Banquet, Kathmandu.
During the AGM, shareholders will also approve the annual report and financial statements of the previous fiscal year, and finalize the appointment and remuneration of auditors for the current fiscal year.
NRN Infrastructure started distributing dividends from FY 076/77, beginning with 3%. In the following three fiscal years, it distributed 5.26% dividends. However, in FY 079/80, no dividends were distributed to shareholders.
The company has not yet announced the book closure date related to the dividend and AGM.