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Doreen Power recommends 30pc dividend

FE Online Report | Published: September 01, 2019 11:36:53 | Updated: September 02, 2019 15:37:58


The board of directors of Doreen Power Generations and Systems Ltd has recommended 17 per cent cash dividend for shareholders excluding the sponsors/directors and 13 per cent stock dividend for all shareholders for the year ended on June 30, 2019.

The sponsors/directors hold 77.37 million shares out of total 116.16 million shares of the company and the cash dividend to be payable to the general shareholders is Tk 65.94 million.

The final approval of divined will come from the annual general meeting scheduled to be held on December 12 at 11:00am in Dhaka, said an official disclosure on Sunday.

The record date is October 13.

The company has also reported consolidated earnings per share (EPS) of Tk 7.91, consolidated net asset value (NAV) per share (with revaluation) of Tk 44.19, and consolidated net operating cash flow per share (NOCFPS) of Tk 7.25 for the year ended on June 30, 2019 as against Tk. 7.14, Tk. 36.68 and Tk. 9.86 respectively for the same period of the previous year.

There will be no price limit on the trading of the shares of the company today following its corporate declaration.

The power generation company’s share closed at Tk 79.80 each on Thursday last on Dhaka Stock Exchange.

The Doreen Power, which was listed on the DSE in April 2016, disbursed 15 per cent cash and 10 per cent stock dividends in 2018.

The company’s paid-up capital is Tk 1.16 billion and authorised capital is Tk 2.0 billion while total number of securities is 116.16 million.

The sponsor-directors own 66.61 per cent stake in the company, while institutions own 20.62 per cent, foreign investors 0.07 per cent and the general public 12.70 per cent as of July 31, 2019, the DSE data showed.

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