Dhaka, Bangladesh (BBN) - The board of directors of United Power Generation and Distribution Company has recommended 45 percent final cash dividend (total 125 percent including 80 percent interim), said an official disclosure.
The recommended the final dividend out of the net profit of the company for 18 months period ended on June 30, 2016, said the disclosure.
The final approval will come during the annual generation meeting (AGM) scheduled to be held on October 29 at 10am at Army Golf Club in Dhaka.
The record date for entitlement of cash dividend is on October 10.
The company has reported earnings per share (EPS) of BDT 15.57, net asset value (NAV) per share of BDT 34.50 and net operating cash flow per share (NOCFPS) of BDT 16.10 for the 18 months period from January 01, 2015 to June 30, 2016.
There will be no price limit on the trading of the shares of the company today following its corporate declaration.
The company’s share price hovered between BDT 142.80 and BDT 147 on Monday, before closing at BDT 144.40 each, shedding 1.63 percent over the day before.
The company also disbursed 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.
United Power was listed on the stock exchanges in 2015. The power sector company belongs to the “A” category.
The company’s paid-up capital is BDT 3,629.45 million and authorised capital is BDT 8,000 million, while the total number of securities is 362,944,698.
The company’s total market cap stood at BDT 53,389.17 million as on Monday.
The sponsor-directors own 90 percent stake in the United Power, while institutional investors own 4.02 percent and the general public 5.98 percent as on August 31, 2016, the DSE data showed.
BBN/AD/SR