Doreen Power holds 14th AGM, approves 25pc dividend

The 14^th Annual General Meeting (AGM) of Doreen Power Generations and Systems Limited was held on Sunday through a digital platform.

At the AGM, the shareholders of the company approved 25pc dividend along with other agendas, says a press statement.

Ms Anjabeen Alam Siddique, Chairman of the Board of Directors of the Company presided over the meeting while Managing Director Mr Tahzeeb Alam Siddique, Director Mr Abul Hasnat, Director Mr Ali Akbar, Independent Director Mr Mahtab Bin-Ahmed and Company Secretary Mr Masudur Rahman Bhuiyan, among others, were present at the AGM.

Audited Financial Statements, auditors’ report along with directors’ report for the year ended on June 30, 2021, were approved at the AGM.

At the meeting, shareholders approved 12pc stock dividend for all shareholders and 13pc cash dividend for general shareholders except directors and sponsors for the financial year 2020-2021.

Earnings Per Share (EPS) and Net Operating Cash Flow Per Share (NOCFPS) of the company was Tk.8.09 and Tk.6.46 for the financial year 2020-2021. Net Asset Value Per Share (NAVPS) stood at Tk.48.41 as on June 30, 2021.

Doreen Power, which was listed at the capital market in 2016, has a paid-up capital of Tk 144.39 crore (before AGM). The sponsor and directors hold 66.61pc stake in the company while institutional investors hold 18.24pc, and the general investors hold the remaining 15.13pc as on June 30, 2021.

Based on the latest audited EPS and market value, Price-Earnings (PE) Ratio of the company is 11.64 while the PE Ratio is 6.25 as per the latest unaudited financial statements.