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The Financial Express

Union Capital declares ‘no’ dividend for 2020

| Updated: June 01, 2021 11:23:25


Union Capital declares ‘no’ dividend for 2020

The board of directors of Union Capital has recommended no dividend for the year ended on December 31, 2020, as the company continued to incur loss.

The non-bank financial institution has incurred a consolidated net loss of Tk 531.52 million for the year ended on December 31, 2020, as against net loss of Tk 1.05 billion in the previous year.

The company has also reported consolidated earnings per share (EPS) minus Tk 3.08 for the year ended on December 31, 2020, as against loss of Tk 6.13 per share in the previous year.

The company’s consolidated net operating cash flow per share (NOCFPS) was negative Tk 0.65 for the year ended on December 31, 2020, as against negative Tk 4.93 respectively for the same period of the previous year.

The consolidated net asset value (NAV) per share of Tk 4.12 for the year ended on December 31, 2020, which was Tk 7.21 a year earlier.

The annual general meeting (AGM) will be held on July 28 at 11:00 am using the digital platform. The record date is set on June 22, the company said in a filing with the Dhaka Stock Exchange (DSE) on Monday.

The company informed that consolidated EPS for 2020 has improved from the previous year due to increment of other operating income by deploying recovery effort especially for write off clients, increment of investment income, and reduction of operating expenses by 29 per cent from previous year coupled with decrease in provision requirement than the previous year.

The company also published first quarter (Q1) un-audited financial statements for January-March, 2021 on Monday. As per the Q1 reports, the company’s EPS stood at minus Tk 0.59 for January-March 2021 as against minus of Tk 0.12 for January-March 2020.

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 company, which was listed on the DSE in 2007, closed at Tk 7.90 on Sunday. Its shares traded between Tk 4.80 and Tk 10.60 in the last one year.

The company also declared no dividend for the year ended on December 31, 2019. However, in 2018, it disbursed 5.0 per cent stock dividend.

The company’s paid-up capital is Tk 1.72 billion, authorised capital is Tk 2.0 billion and the total number of securities is 172.57 million.

The sponsor-directors own 35.20 stakes in the company while the institutional investors own 18.03 per cent and the general public 46.77 per cent as of April 30, 2021, the DSE data shows.

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