Chilime Hydropower Company Limited has distributed a mindblowing
295percent cash dividend and 100 percent bonus share to the shareholders
from the net profit it made over the past decade.
The 17th Annual General Meeting of the hydropower developer held in the capital yesterday also decided to distribute 30 percent bonus share and 10 percent cash to the shareholders from the net profit it earned in the last fiscal year of 2069/70.
The hydropower company posted a net profit of Rs 963.75 million (Rs 96 crore, 37 lakh and 50 thousand) during the fiscal year 2069/70.
The profit in the previous fiscal year stood at Rs 945.32 million (Rs 94 crore, 32 lakh).Last year, company had distributed 30 percent bonus and 20 percent cash diviend to its share holders.
It's listed shares were traded at Rs 1,230 at the Nepal Stock Exchange yesterday.
During the AGM yesterday, chairperson of the company Arjun Kumar Karki informed that they plan to construct four hydropower projects with the collective installed capacity of 270.3 Megawatt.
Once this happens, the company will be in position to give much more dividend to its shareholders, he added.
“We are distributing the bonus shares also to generate the capital required for the projects,” Karki further said. “We intend to distribute more bonus shares next year, too, for the same purpose.”
The four projects in the pipeline include Sanjen Jalavidhyut Company Limited (SJCL), Madhya Bhotekoshi Jalavidhyut Company Limited (MBJCL), Rasuwagadhi Hydropower Company Limited (RGHPCL) and a Bemdang Khola hydropower project.
SJCL is a subsidiary of Chilime and was incorporated in March 2010 as a public limited company. SJCL has planned to develop two new projects–Sanjen Hydroelectric Project (SHEP) having capacity of 42.5 MW and Sanjen(Upper) Hydroelectric Project (SUHEP) of capacity 14.8 MW in Rasuwa district of Central Development Region.
The company will manage the debt requirement of the project from the EPF for which tri-partite loan arrangement has been signed between EPF, Chilime and SJCL. The equity investment will be made through 51 percent promoter share and 49 percent public share. Chilime has 38 percent shareholding in SJCL. The promoter share will be raised first then after public share.
Likewise, MBJCL is a subsidiary company of Chilime, registered as public company in july 2010. MBJCL has planned to develop Middle Bhotekoshi Hydroelectric Project (MBKHEP) with an installed capacity of 102 MW in Sindhupalchowk district of Central Development Region.
Tri-partite loan agreement has been signed between EPF, Chilime and MBJCL for debt portion. The equity investment will be made through 51 percent promoter share and 49 percent public share. Chilime is a leading company with 38 percent share.
RGHPCL is also a subsidiary of Chilime Hydropower Company Limited (CHPCL) and was incorporated in August 2011 as a public limited company. It has planned to develop a new project - Rasuwagadhi Hydroelectric Project (RGHEP) having capacity of 111MW in Rasuwa district of Central Development Region.
The cost of the project is estimated to be Rs. 1 arba 36 crore 84.2 lakh excluding financial cost. A 50:50 debt-equity structure will be employed for financing this project.
The company will manage the debt requirement of the project from the Employer's Provident Fund (EPF) for which tri-partite loan arrangement has been signed between EPF, CHCPL and RGHPCL on December 8, 2011. The equity investment will be made through 51 percent promoter share and 49 percent public share. Chilime has 33 percent shareholding in RGHCL. The promoter share will be raised first then after public share.
However, the details of Bemdang Khola hydropower project was not immediately available.
-sharesansar
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