Nepal Doorsanchar amended book closure date; Book closure date set on Poush 16

Nepal Doorsanchar Company Limited (NTC) revises the book closure date. As per the notice published in NEPSE today, the book closure date for the AGM has been set from Poush 16 to Poush 30, 2074. Thus, only those shareholders holding their shares before the book closure date are eligible to participate in the AGM and proposed dividend. Previously, the book closure date was set from Poush 12 to Poush 30, 2074 which seems to be big blunder done by the company. NTC had announced 55% cash dividend from the net profit of FY 2073/74. NTC will be convening its 10^th Annual General Meeting on Poush 30, 2074. The AGM is going to be held at Tribhuwan Army Officers Club. Kathmandu at 10:00 AM. It had earned Rs 15.01 arba in the FY 2073/74 and its LTP stood at Rs 860 as of last trading day.

Why are long term investors being benefited by investing in NTC? Why did NTC’s share price plunge recently? Are smart market players discontented with NTC’s dividend policy?