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The Financial Express

United Power recommends 140pc dividend

| Updated: August 05, 2019 11:21:41


Representational image Representational image

The United Power Generation & Distribution Company Ltd has recommended 130 per cent cash and 10 per cent stock dividend for the year ended on June 30, 2019, according to an official disclosure published on Friday.

The final approval of dividend will come at the annual general meeting (AGM) of the company scheduled to be held at Army Golf Club in Dhaka on November 5.

The record date for entitlement of dividend is September 8.

The company's consolidated revenue stood at Tk 11.25 billion for the year ended on June 30, 2019. Its separate revenue stood at Tk 6.47 billion as against Tk 6.14 billion in 2018.

The power generation company's consolidated net profit stood at Tk 7.85 billion for the year ended on June 30, 2019. Its net profit stood at Tk 4.80 billion as against Tk 4.59 billion in 2018.

The company has also reported consolidated earnings per share (EPS) of Tk 16.08, consolidated net asset value (NAV) per share of Tk 62.80 and consolidated net operating cash flow per share (NOCFPS) Tk 16.14 for the year ended on June 30, 2019.

The company's separate EPS stood at Tk 10.03, separate NAV per share Tk 36.53 and separate NOCFPS of Tk 9.75 for the year ended on June 30, 2019 as against Tk 9.59, Tk 34 and Tk 9.0 respectively for the year ended on June 30, 2018.

The company has also informed that the bonus shares declared will be utilised for resource mobilisation and implementation of the newly acquired power plant of Leviathan Global BD and this has been declared out of accumulated profit available for distribution.

Recently, the United Power acquired 75 per cent -- equivalent to 300,000 ordinary shares -- of Leviathan Global at a face value of Tk 10 per share each.

In 2018, the company disbursed 90 per cent cash and 20 per cent stocks dividend.

There will be no price limit on the trading of the shares of the company on Sunday (August 4) following its corporate declaration.

On Thursday, each share of the company, listed on the Dhaka bourse in 2015 under book-building method, closed at Tk 383.60 on the Dhaka Stock Exchange (DSE).

The company's paid-up capital is Tk 4.79 billion and authorised capital is Tk 8.0 billion, while the total number of securities is 479.08 million.

Sponsor-directors own 90 per cent stake in the company while institutional investors own 6.44 per cent, foreign investors 0.04 per cent and the general public 3.52 per cent as on June 30, 2019, the DSE data show.

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