Today, April 30, marks the last day for shareholders of CEDB Hydropower Development Company (CHDC) to secure their eligibility for the company’s proposed dividend distribution. CHDC is closing its shareholders’ register on May 1 in preparation for its upcoming Annual General Meeting (AGM).
Shareholders registered in the company’s books by the end of April 30 will be eligible to attend the AGM, scheduled for May 13 at 8 am at the Newa Bamboo Cottage in Harisiddhi, Lalitpur. Furthermore, these registered shareholders will also be entitled to receive the dividends announced by the company, subject to approval at the AGM.
CHDC has proposed a dividend distribution consisting of an 11 percent stock dividend and a 0.5789 percent cash dividend for its shareholders. The AGM agenda includes endorsing this dividend proposal, among other important matters.
In addition to the dividend distribution, the meeting will also consider granting authority to the Board of Directors to amend the company’s Articles of Association and Memorandum of Association. Furthermore, shareholders will have the opportunity to elect new directors, appoint an independent director, and select the company’s auditor for the upcoming fiscal year.
Shareholders are encouraged to register their names in CHDC’s shareholder register by the end of today to ensure their eligibility to participate in the AGM and receive the proposed dividends. Timely registration will also enable shareholders to exercise their voting rights and actively engage in the company’s decision-making processes.
By adhering to the book closure deadline, CHDC aims to maintain transparency and foster effective communication with its shareholders. This practice aligns with the principles of corporate governance and regulatory compliance, ensuring that shareholder rights and interests are safeguarded.
The AGM provides a valuable platform for CHDC to update its shareholders on the company’s performance, strategic plans, and future outlook, while also seeking their input and approval on critical matters. Shareholders are advised to attend the meeting or authorize their representatives to participate and cast their votes on their behalf.
