Loading...

United Power recommends 90pc cash, 10pc stock dividend

FE Online Report | Published: November 28, 2017 11:41:42 | Updated: November 28, 2017 12:56:18


The board of directors of United Power Generation & Distribution Company Limited has recommended 90 per cent cash dividend and 10 per cent stock dividend for the year ended on June 30, 2017, said an official disclosure on Tuesday.

The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on January 27 (subject to the approval by the Honourable Court), 2018 at Army Golf Club in Dhaka.

The record date for entitlement of dividend is on January 8, 2018.

The company has reported earnings per share (EPS) of Tk 11.50, net asset value (NAV) per share of Tk 41.22 and net operating cash flow per share (NOCFPS) of Tk 12.19 for the year ended on June 30, 2017 whereas EPS of Tk 15.57, NAV per share of Tk 34.22 and NOCFPS of Tk 15.05 respectively for the 18 months period from January 01, 2015 to June 30, 2016.

In 2016, the company disbursed 125 per cent cash dividend.

There will be no price limit on the trading of the shares of the Company on today (Tuesday) following its corporate declaration.

Each share of the power generation company, which was listed on the Dhaka bourse in 2015 under book-building method, closed at Tk 178.50 on Monday the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 3.62 billion and authorised capital is Tk 8.0 billion, while the total number of securities is 362.94 million.

Sponsor-directors own 92.02 per cent stake in the company while institutional investors own 3.68 per cent and the general public 4.30 per cent as on October 31, 2017, the DSE data shows.

The principal activity of the company is to generate electricity by two gas fired power plants, one at DEPZ with 88 MW capacity and the other at CEPZ with 72 MW capacity and to sell generated electricity to the export processing industries located inside DEPZ and CEPZ with the provision of selling surplus power outside the Export Processing Zones (EPZs) after fulfilling their requirement.

 babulfexpress@gmail.com

Share if you like