DSE trading building in Dhaka
Dhaka, Bangladesh (BBN)- Khulna Power Company Ltd (KPCL) continued to dominate the Dhaka bourse’s weekly turnover chart that ended on Thursday.
Market insiders said investors were selling shares of Khulna Power’s almost throughout the week as the company declared lower than expected dividend last week.
The board of directors of Khulna Power Company has recommended 30 percent cash and 10 percent stock dividend for the year ended on June 30, 2018.
In 2017, the power generation company disbursed 55 percent cash dividend in 2017.
The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on December 09 in Dhaka. The record date is on November 22.
The company has also reported earnings per share (EPS) of BDT 6.18, net asset value (NAV) per share of BDT 26.87 and net operating cash flow per share (NOCFPS) of BDT 2.09 for the year ended on June 30, 2018 as against BDT 5.07, BDT 26.20 and BDT 4.78 respectively for the same period of the previous year.
According to statistics available with the DSE, about 12.78 million shares of KPCL were traded, generating a turnover of BDT 1.54 billion, which was 6.39 percent of the week’s total turnover.
Top ten companies grabbed more than 26 percent transaction of the Dhaka Stock Exchange’s total turnover.
The total turnover on the DSE stood at BDT 24.12 billion last week which was BDT 20.47 billion on the previous week.
The power generation company’s share price closed at BDT 111.90 each on Thursday, the last trading day of the week, losing 10.84 percent over the week before as the company declared expected than lower dividend.
Recently, Credit Rating Information and Services Ltd (CRISL) has rated the company as “AAA” in the long-term and “ST-1” in the short-term along with a stable outlook based on audited financial statements of the company up to June 30, 2017.
The company’s paid-up capital is BDT 3.61 billion, authorised capital is BDT 7.0 billion and the total number of securities is 361.28 million.
The sponsor-directors own 70.59 percent stake in the company while institutional investors own 10.70 percent, foreign investors 0.78 percent and the general public 17.93 percent as on August 31, 2018, the DSE data shows.
Shahjalal Islami Bank followed next, with shares worth BDT 615 million changing hands, followed by Monno Ceramic Industries BDT 613 million, Nurani Dyeing BDT 553 million, Intech BDT 542 million, Summit Power BDT 497 million and Advent Pharma BDT 492 million.
BBS Cables was also included in the top ten turnover chart with shares of BDT 481 million changing hands, followed by VFS Thread Dyeing BDT 470 million and United Power BDT 463 million.
BBN/SSR/SR