Dhaka, Bangladesh (BBN) – The board of directors of GBB Power has recommended 5.0 percent final cash, (excluding 10 percent cash dividend) for the 18 months period ended on June 30, 2016, said an official disclosure on Monday.
The final approval will come during the annual general meeting (AGM) scheduled to be held on October 6 at 10am at Conference Hall at Hotel Naz Garden in Bogra.
The record date for entitlement of cash dividend is on September 19, 2016.
GBB Power has extended the financial year (FY) 2015 of the company by an additional period of 6 months comprising to 18 months period ending on 30th June, 2016 instead of 31st December, 2015 in order to comply with the uniform income year from July to June as per provision of section 9 of the Finance Act, 2015.
The company has reported earnings per share (EPS) of BDT 1.68 (adjusted), net asset value (NAV) per share of BDT 20.41 (adjusted) and net operating cash flow per share (NOCFPS) of BDT 2.91 (adjusted) for the 18 months period from January 01, 2015 to June 30, 2016.
The Company has also reported EPS of BDT 0.80, NAV per share of BDT 20.41 and NOCFPS of BDT 1.18 for the 6 months period ended from January 01 to June 30, 2016.
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 traded between BDT 13.80 and BDT 14.10, before closing at BDT 13.90 on Sunday, remaining unchanged over the previous day.
In 2014, the company disbursed 15 percent stock dividend for the year ended on December 31, 2014.
GBB Power, which was listed on the Dhaka bourse in 2012, disbursed 15 percent stocks dividend.
The company’s paid-up capital is BDT 969.56 million and authorised capital is BDT 2,000 million, while the total number of securities is 96,955,760, the DSE data showed.
The sponsor-directors own 32.01 percent stake in the GBB Power, while the institutional investors own 16.44 percent, and the general public own 51.55 percent as of July 31, 2016.