Ridge Line Energy Limited has concluded its 5th Annual General Meeting (AGM), approving a cash dividend worth more than Rs 12.47 crore for its shareholders. The meeting, held on Kartik 17, approved a total cash dividend of Rs 124,736,842.11, including tax, for the fiscal year 2083/84.

The AGM also elected Niranjan Parajuli as a new director representing public shareholders.

In another major decision, the meeting approved the transfer of the electricity generation survey licence, along with all related rights and obligations, of the company-owned 12.504 MW Maiwa Khola Hydropower Project to its subsidiary, Ridge Power Limited.

Furthermore, the company appointed S. Chapagain & Associates as its external auditor for the current fiscal year 2083/84, setting an annual remuneration of Rs 300,000.

Ridge Line Energy has stated that the decisions made by the AGM have been communicated to the Securities Board of Nepal (SEBON), Nepal Stock Exchange (NEPSE), and CDS and Clearing Limited