United Power recommends 110pc dividend

FE Online Report | Published: August 09, 2018 11:51:12 | Updated: August 11, 2018 10:28:11


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The board of directors of United Power Generation & Distribution Company Limited has recommended 90 per cent cash and 20 per cent stock dividend for the year ended on June 30, 2018, said an official disclosure on Thursday.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on October 30 at 10:30am at Golf Garden, Army Golf Club, Airport Road in Dhaka.

The record date for entitlement of dividend is on September 6, 2018.

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The company has reported earnings per share (EPS) of Tk 11.51, net asset value (NAV) per share of Tk 40.80 and net operating cash flow per share (NOCFPS) of Tk 10.81 for the year ended on June 30, 2018 against Tk 10.46, Tk 37.47 and Tk 10 respectively for the same period of the previous year.

In 2017, the company disbursed 90 per cent cash and 10 per cent stocks dividend.

There will be no price limit on the trading of the shares of the Company on today (Thursday) following its corporate declaration.

Each share of the power generation company, which was listed on the Dhaka bourse in 2015 under book-building method, closed at Tk 332 on Wednesday the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 3.99 billion and authorised capital is Tk 8.0 billion, while the total number of securities is 399.23 million.

Sponsor-directors own 90 per cent stake in the company while institutional investors own 6.16 per cent and the general public 3.84 per cent as on June 30, 2018, the DSE data shows.

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