August 8: The Board of Directors (BOD) of Arun Valley Hydropower Development Company will be presenting a proposal for issuing 3,157,883 units of Further Public Offering (FPO) at the premium rate in the upcoming AGM to be held on September 2.
Similarly, the BOD will be presenting the proposal of issuing 10 percent bonus share and distributing 0.526 percent cash dividend for tax purpose.
Once the proposal gets approved by the AGM, the dividend will be distributed to the shareholders. As per the information provided by the company, the company is issuing the FPO in a bid to increase investment in existing projects of the company.
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