Nepal Telecom's 16th AGM approved cash dividend of Rs 40 per share

KATHMANDU:The 16th Annual General Meeting of Nepal Telecommunication Company concluded on Sunday.

The General Assembly held at the Kathmandu has unanimously passed the proposal to distribute cash dividends to the shareholders at the rate of 40 rupees per share from the profit amount of the financial year 2079-80.

The general meeting was attended by shareholders representing about 92 percent of the outstanding shares.

The meeting unanimously approved the board of directors' annual report and auditor's report for fiscal year 2079-80, as well as the balance sheet, profit and loss account, cash flow statement, and other schedules for June 30, 2080.

Similarly, Manish Jang Joshi was elected unopposed as a director representing ordinary shareholders on the Board of Directors.

Ramakrishna Subedi, chairman of the company's board of directors and secretary of the Ministry of Communication and Information Technology, welcomed the shareholders to the general meeting and presented the company's 16th annual report.