Nepal Telecom (NTC) has proposed a dividend for the Fiscal Year (FY) 2078/79. The company, if approved, will be offering Rs 40 per share to its shareholders. The company has also called for its 15th annual general meeting (AGM) on January 12 (Poush 28).
A recent meeting of the company’s Board of Directors on December 21 passed the proposal to pay dividends on profit to its shareholders.
The meeting decided to hold its annual general meeting at Rastriya Sabha Griha, Exhibition Road, Kathmandu starting from 10 am. Check out: Nepal Telecom Awarded as the Highest-Tax Paying Company for FY 77/78
The same meeting decided to hold the company’s 15th annual general meeting on January 12. The meeting will be held at the Rastriya Sabha Griha, Exhibition Road, Kathmandu starting from 10 am.
The meeting will ratify the dividend after approval from the Ministry of Finance. Besides, it will also approve the annual report and auditor’s report for FY 2078/79.
Last year, at its 14th AGM, Ntc issued 20% bonus share and 20% cash dividend to its shareholders.
Nepal Telecom closing its books for dividend for FY 2078/79
The company has decided to close the book from January 18th to January 27th for dividend and meeting purposes. This means that only the permanent shareholders till the 17th of January will be eligible to receive the dividend of this company and participate in the meeting.
The company has also decided to close its books from January 2 – 11. It means only the shareholders till January 1 will be eligible to receive the cash dividend and participate in the meeting.
Ntc is one of the most profitable government enterprises in Nepal. In FY, the telco reported a profit of 8 billion, an increase of 18% over the previous FY. With its various services including mobile and fiber internet broadband, the company boasts a 52.25% market share in Nepal. Ntc also plans to issue a 22% share for its customers.
How do you see the decision of Ntc to provide Rs 40 per share divided for FY 2078/79? You can share in the comments below.
