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The Financial Express
Swasti Lankabangla Swasti Lankabangla

Summit Power recommends 20pc final cash dividend

| Updated: October 11, 2020 10:40:59


- Photo collected from internet has been used for representational purpose - Photo collected from internet has been used for representational purpose

The board of directors of Summit Power Ltd has recommended a 20 per cent final cash dividend for the year ended on June 30, 2020.

The company’s total cash dividend will be 35 per cent for the financial year ended on June 30, 2020, including 15 per cent interim cash dividend, which has already been paid, according to an official disclosure on Thursday.

The annual general meeting (AGM) will be held on December 14 at 11:00am through a digital platform.

The record date is November 15.

The company has also reported consolidated earnings per share (EPS) of Tk 5.17, consolidated net asset value (NAV) per share of Tk 31.50 and consolidated net operating cash flow per share (NOCFPS) of Tk 9.42 for the year ended on June 30, 2020 as against Tk 4.78, Tk 32.40 and Tk 5.67 respectively for the same period of the previous year.

There will be no price limit on the trading of the shares of the Company today following its corporate declaration; however, as per the BSEC Order dated March 19, 2020, the floor price shall be applicable accordingly.

Each share of the power generation company, which was listed on the Dhaka bourse in 2005, closed at Tk 41.40 on Wednesday.

Its share traded between Tk 32.50 and Tk 45 in the last one year.

In 2019, the company also disbursed 35 per cent cash dividend.

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

The sponsor-directors own 63.21 per cent stake in the company, while the institutional investors own 21.71 per cent, foreign investors 3.65 per cent and the general public 11.43 per cent as on August 31, 2020, the DSE data shows.

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