NTC to offer cash dividend of 30 rupees per share to shareholders

KARTHMANDU, JANUARY 12 : Nepal Telecommunications Company Limited (NTC) held its 17th Annual General Meeting (AGM) successfully. The meeting, which took place o at the National Assembly Hall in Kathmandu, unanimously approved a proposal to distribute a cash dividend of 30 rupees per share from the profits of the last fiscal year 2023/24.

Around 91.62 percent of the shareholders attended the meeting. The AGM discussed and approved several key documents, including the board of directors’ annual report, the auditor's report, the balance sheet as of the end of Ashar 2081, the profit and loss statement, the cash flow statement, and other related schedules.

The meeting also appointed Chartered Accountants Narendra Bhattarai and Prakash Jung Thapa as auditors for the fiscal year 2081/82. Their appointment followed recommendations from the company's audit committee and the consultation with the Office of the Auditor General. The meeting also set their remuneration.

During the meeting, Radhika Aryal, the Chairperson of the Board of Directors and Secretary of the Ministry of Communication and Information Technology, welcomed the shareholders and presented the company’s 17th annual report.

In her presentation, Aryal highlighted that despite the highly competitive environment, the company prioritized service quality over profits. She emphasized the company’s efforts to expand services to remote and challenging areas and contribute to the government’s Digital Nepal initiative. She also mentioned NTC’s role in supporting electronic governance and bridging the digital divide through the construction of an information highway using optical fiber.

Aryal further stated that, during the review period, the company reached over 23 million satisfied customers. Despite internal and external challenges, NTC generated a total revenue of 42.11 billion rupees and earned a profit of 6.23 billion rupees. Additionally, the company contributed 41.59 billion rupees to the national economy in the form of taxes and duties.