Bangladesh
4 years ago

Shahjibazar Power recommends 30pc dividend

Representational image
Representational image

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The board of directors of Shahjibazar Power Company Limired has recommended 28 per cent cash and 2.0 per cent stock dividend for the year ended on June 30, 2019, said an official disclosure on Monday.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on 30 January, 2020 in Dhaka.

The record date is December 3, 2019.

The power generation company has also reported Consolidated EPS of Tk 4.32, Consolidated NAV per share of Tk 33.88 and Consolidated NOCFPS of Tk 6.23 for the year ended on June 30, 2019 as against Tk 3.98 (restated), Tk 32.00 and Tk 2.53 respectively for the same period of the previous year.

The company has also informed that bonus Shares has been recommended with the object to utilise its retained amount as capital for Balancing and Modernisation. Bonus shares are declared out of accumulated profit.

And bonus shares are not declared from capital reserve or revaluation reserve or any unrealised gain or out of profit earned prior to incorporation of the company or through reducing paid up capital or through doing anything so that the post-dividend retained earnings become negative or a debit balance.

In 2018, the company disbursed 25 per cent cash and 3.0 per cent stock dividend.

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

Each share of the company, which was listed on the Dhaka bourse in 2014, closed at Tk 78.30 each on Sunday at Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 1.65 billion and authorised capital is Tk 5.0 billion while total number of securities is 165.85 million.

The sponsor-directors own 63 per cent stake in the company, the institutional investors own 19.03 per cent and the general public 17.97 per cent as on September 30, 2019, the DSE data shows.

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