Api Power Company Amends Dividend | To Provide 5 Percent Bonus Share
October 6, 2024 | Investopaper
Api Power Company Limited (API) has amended the dividend to the shareholders from the fiscal year 2080/81. As informed on Nepse, the company has proposed a 5.2632 percent dividend. The total dividend includes a 5 percent bonus share and a 0.2632 percent cash dividend.
Earlier, the board meeting of the company held on Bhadra 7, 2081 BS had proposed a 9.4737 percent dividend from the fiscal year 2080/81. The total dividend included a 9 percent bonus share and a 0.4737 percent cash dividend (for tax purposes).
However, Electricity Regulatory Authority (ERC) didn’t provide approval for the the distribution of the dividend proposed by the company, citing that the unrealized gains were included for the calculation of the profit for the fiscal year 2080/81. Hence, the company has revised the dividend.
As of Ashad’s end 2081 B.S., API has a paid-up capital of Rs. 5.78 Arba.
From the fiscal year 2078/79, the hydropower company had distributed a 7.8947 percent dividend, including a 7.50 percent bonus share and a 0.3947 percent cash dividend. Likewise, from the fiscal year 2077/78, Api Power Company had provided an 11.05 percent dividend including a 10.50 percent bonus share and a 0.55 percent cash dividend.
Related: Dividend Announcement By Hydropower Companies In Nepal
