Ru Ru Jalbidhyut Pariyojana Limited (RURU) has announced a 15.789% dividend for the fiscal year 2080/81 and scheduled its 19th Annual General Meeting (AGM) for Kartik 11, 2081. The meeting will take place at Lisara Banquet, Naxal, Kathmandu, at 11 AM.
The company has proposed a 15% bonus share distribution and a 0.789% cash dividend (including tax) for the fiscal year. With a current paid-up capital of Rs. 49.33 crores, the dividend will benefit existing shareholders, pending approval from the Electricity Regulatory Commission and final endorsement at the AGM.
In addition to the dividend, Ru Ru Jalbidhyut plans to issue 80% right shares worth Rs. 3.78 Arba after adjusting for the 15% bonus shares. The proceeds from this issuance will support the development of the Upper Pikhuwa Khola Hydroelectric Project (4.1 MW) in Bhojpur District, under the ownership of its subsidiary, Sumnima Hydro Power Company Pvt. Ltd. The funds will also be used to clear existing loan facilities.
The company has set Ashwin 30 as the book closure date, meaning shareholders who own shares before this date are eligible to receive the dividend and participate in the AGM.
As of now, RURU’s last traded price (LTP) stands at Rs. 710 per share.