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Summit Power recommends 35pc cash dividend

FE Online Report | Published: September 23, 2019 11:15:23 | Updated: September 24, 2019 15:49:53


Photo collected from internet has been used for representational purpose only

The board of directors of Summit Power Ltd has recommended 35 per cent cash dividend for the year ended on June 30, 2019, said an official disclosure on Monday.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on November 24 at 11:30 AM at Krishibid Institution Bangladesh Complex Farmgate in Dhaka.

The record date for entitlement is October 17, 2019.

The company has also reported earnings per share (EPS) of Tk 4.78, net asset value (NAV) per share of Tk 32.40 and net operating cash flow per share (NOCFPS) of Tk 5.67 for the year ended on June 30, 2019 as against Tk 4.40, Tk 31.26 and Tk 4.54 respectively for the same period of the previous year.

In 2018, the company disbursed 30 per cent cash dividend.

Each share of the power generation company, which was listed on the Dhaka bourse in 2005, closed at Tk 40.30 on Sunday.

The company’s paid-up capital is Tk 10.67 billion and authorised capital is Tk 15 billion, while the total number of securities is 1.06 billion.

The sponsor-directors own 63.18 per cent stake in the company, institutional investors own 21.15 per cent, foreign investors 3.65 per cent and the general public 12.07 per cent as on July 31, 2019, the DSE data shows.

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