Dhaka, Bangladesh (BBN)- United Power Generation and Distribution Company Limited dominated the week’s top turnover chart on the Dhaka Stock Exchange (DSE) last week that ended on Thursday.
According to statistics from the DSE, some 7.20 million United Power shares were traded during the week, generating a turnover of Tk 1.23 billion, which was 6.31 percent of the wekk’s total transaction on DSE.
The power generation company’s share closed at BDT 165.2 on Thursday, registering a dcline of 1.96 percent over the previous week’s close price.
Market insiders said the investors played both sides of the United Power’s shares almost throughout the week, which helped to company to become turnover leader.
Recently, the board of directors of United Power has recommended 80 percent cash dividend out of the provisional net profit of the company up to December 31.
The company has decided to extend its financial year for 18 months ending on 30th June 2016 to comply with the Finance Act 2015. Accordingly, the AGM of 2016 will be held after completing the 18 months, after June 2016. The record date is on May 25, said the company in a statement.
The company has also reported earnings per share (EPS) of BDT 10.42, net asset value (NAV) per share of BDT 37.55 and net operating cash flow per share (NOCFPS) of BDT 9.44 for the period ended on December 31, 2015 as against BDT 7.55 (restated), BDT 29.04 (restated) and BDT 7.79 (restated) respectively for the period ended on December 31, 2014.
The company also disclosed un-audited first quarter (Q1) financial report on April 28. As per the Q1 report, EPS for January-March, 2016 was BDT 3.02 as against BDT 2.17 for the same period last year.
The company distributed 30 percent cash and 10 percent stock dividend for the year ended on December 31, 2014 and 35 percent cash dividend for the year ended on December 31, 2013 at a time.
United Power was listed on the Dhaka bourse in April last year book building method. The fuel and power sector company belongs to the “A” category.
The sponsor-directors own 90 percent stake in United Power, while institutional investors own 3.84 percent and the general public 6.16 percent as on April 30, 2016.
The company’s paid-up capital is BDT 3,629.5 million and authorized capital is BDT 8,000 million while total number of securities is 362,944,698, according to DSE website figures.
The company’s total market capitalization stood at BDT 60,938.42 million as on Thursday.
The board of directors of United Power recently approved a scheme of amalgamation of Shajahanullah Power Generation Company (SPGCL) and United Ashuganj Power (UAPL) with the United Power.
SPGCL is a 28 MW gas fired commercial IPP located at Kumargaon, Sylhet and UAPL is a 53 MW Quick Rental Power Plant at Ashuganj, Brahmanbaria.
United Power was followed by MJL BD with shares worth BDT 1.14 billion changing hands, followed by BSRM BDT 1.06 billion, BSRM Steels BDT 959 million, Linde BD BDT 679 million and Shahjibazar Power Company BDT 414 million.
Square Pharmecuticals was also included in the top ten turnover chart with shares of BDT 394 million changing hands, followed by LankaBangla Finance BDT 392 million, Olympic Industries BDT 362 million and Doreen Power generations and Ssytems BDT 356 million.
BBN/SSR/BB