Nepal Telecom (NTC) has held its 11th Annual General Meeting (AGM) on Poush 30 (Jan 14, 2018) at Army Officers Club, Bhadrakali. As scheduled, they have approved the Annual report 2074/75 and the dividend of Rs 55 per share from last FY profit. MoCIT secretary and Ntc board chairman have put their plan to upgrade 4G to 5G.
Earlier Nepal Telecom board made a decision to hold the 11th AGM and request to approve Rs 55 per share dividend. Ministry approved the proposal and now the AGM decided to provide the same dividend. So, all NTC shareholders will get Rs 55 per 1 share as a dividend. NMB bank will distribute the Ntc dividend. The current market value of NTC Share is Rs 740. The dividend amount is very appealing to the investors.
All of the board members, Ntc management, NTC employees, trade union activists, and shareholders were present in the annual event. Interested shareholders also put their questions, ideas, suggestions for which the company head (MoCIT, secretary) and/or Ntc management responded.
MoCIT secretary Mr. Mahendra Man Gurung has expressed that considering the rising data service usage, NTC will expand 4G network all over the country. He also mentioned of their plan to upgrade the 4G LTE equipment to 5G. Recently Government also directed NTC to go ahead with 4G expansion and implement 5G in 4 cities. Read the Government direction to Ntc for 4G expansion and 5G.
As progress to the strategic partner in Ntc, he mentioned that the consultant has already submitted the DDA (Due Diligence Audit) report to facilitate the appointment, implementation of the Strategic Partner.
Ntc earned a net profit of Rs 17.48 billion in the fiscal year 2074/75. Government mostly owns (91.5 %) share of Nepal Telecom while public owns the rest of the share.