Sikles Hydropower Limited (SIKLES) has proposed a 12.706 percent bonus share dividend for shareholders from the company’s profit for the last fiscal year. The proposal was made at a board of directors meeting held on Ashoj 19.
The board also proposed a 0.669 percent cash dividend to cover tax on the bonus shares. Shareholders are set to receive bonus shares worth about Rs 124.2 million and cash dividends of approximately Rs 6.536 million if the proposal is approved.
Dividend awaits regulatory and shareholder approval
The proposed dividend must first receive approval from the Electricity Regulatory Commission and then be endorsed by the company’s upcoming annual general meeting. The distribution is not final until both approvals are secured.
