KATHMANDU, Dec 25: The third and fourth Annual General Meeting of United Modi Hydropower Limited has approved a proposal to offer 5 percent cash dividend (Rs 57.5 million) to its shareholders, a statement issued by the company on Friday said.
United Modi Hydropower Limited is the promoter of Lower Modi-1 Hydropower Project (10 MW). It has also received generation license of Lower Modi -2 Hydropower Project (10MW), according to the statement.
The AGM also nominated Narendra Ballav Panta in the vacant post of board directors from promoters group, while Subodh Bhattarai and Renuka Pandey were unanimously elected as representative of public shareholders in the company's board of directors. Company's chair Shakunta Lal Hirachan chaired the AGM held in Kathmandu, the statement added.