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The Financial Express

Summit Power declares 35pc cash dividend for 2021

| Updated: September 28, 2021 16:13:51


Summit Power declares 35pc cash dividend for 2021

The board of directors of Summit Power has recommended a 35 per cent cash dividend for the year ended on June 30, 2021.

The board of directors of the company held a meeting on Sunday and approved the audited financial statements for the year ended on June 30, 2021 and recommended the dividend.

The final approval of the dividend will come at the annual general meeting (AGM) scheduled to be held on December 5 at 11:30am through the digital platform.

The record date is set on October 24, according to a discourse posted the company’s website after the meeting as a price sensitive information.

The power generation company has also reported consolidated earnings per share (EPS) of Tk 5.25, consolidated net asset value (NAV) per share of Tk 34.45 and consolidated net operating cash flow per share (NOCFPS) of Tk 8.53 for the year ended on June 30, 2021 as against Tk 5.17, Tk 31.50 and Tk 9.42 respectively for the same period of the previous year.

The company also disbursed 35 per cent cash dividend for the year ended on June 30, 2020. In 2019, it also provided a 35 per cent cash dividend.

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

Each share of the company, which was listed on the DSE in 2005, closed at Tk 46.50 on Sunday. Its shares traded between Tk 36.50 and Tk 58.40 in the last one year.

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 63.21 per cent stake in the company, while institutional investors own 19 per cent, foreign investors 3.65 per cent and the general public 14.14 per cent as on August 31, 2021, the DSE data showed.

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