Kathmandu, January 9, 2025 - Hydroelectricity Investment and Development Company Limited (HIDCL) successfully conducted its 13th Annual General Meeting (AGM) yesterday at Karki Banquet, Kathmandu. The meeting, chaired by the company’s board representatives, commenced at 10:00 AM and saw active participation from shareholders and stakeholders.
During the AGM, several significant decisions were made, aimed at driving the company's growth and enhancing shareholder value. Key resolutions passed at the meeting include:
1. Approval of the annual report and financial statements for the fiscal year 2080/81.
2. Endorsement of the audit report for the same fiscal year.
3. Decision to distribute previously undisbursed dividends.
4. Approval of a 5.25% cash dividend per share for shareholders, amounting to NPR 1.26 billion.
5. Election of one director representing Founder Group 2 and institutional shareholders.
6. Amendments to the company’s Articles of Association and Bylaws to align with operational and regulatory needs.
7. Allocation of a budget for corporate social responsibility initiatives, with an upper limit of NPR 10 million.
The event concluded on a positive note, reflecting the company’s commitment to sustainable growth and shareholder engagement. The management highlighted its dedication to further strengthening the company’s operational efficiency and expanding its contributions to Nepal's hydropower development sector.
