The board of directors of United Power Generation & Distribution Company Ltd has recommended 145 per cent cash and 10 per cent stock dividend for the year ended on June 30, 2020.
It is the highest dividend declaration by the power generation company after listing with the country’s bourses in 2015.
The final approval of dividend will come at the annual general meeting (AGM) of the company scheduled to be held on December 20 at 11:00 am through Digital Platform, according to an official disclosure on Thursday.
The record date is November 30.
The company has also reported consolidated EPS of Tk. 11.26, consolidated NAV per share of Tk. 56.64 and consolidated NOCFPS of Tk. 13.25 for the year ended on June 30, 2020 as against Tk. 14.62, Tk. 57.09 and Tk. 14.67 respectively for the same period of the previous year.
The company also informed that bonus share declared will be utilised for resource mobilisation and implementation of the acquisition of two power plants—Viz United Anwara Power Limited (UAnPL), and United Jamalpur Power Limited (UJPL)—and it has been declared out of accumulated profit available for distribution.
There will be no price limit on the trading of the shares of the Company today following its corporate declaration; however, as per the BSEC Order dated March 19, 2020, the floor price shall be applicable accordingly.
The company has also disclosed for first quarter (Q1) financial statements on Thursday.
As the Q1 financial statements, its consolidated EPS was Tk. 5.55 for July-September 2020 as against Tk. 3.06 for July-September 2019; Consolidated NOCFPS was Tk. 4.14 for July-September 2020 as against Tk. 3.62 for July-September 2019. Consolidated NAV per share was Tk. 62.40 as on September 30, 2020 and Tk. 56.64 as on June 30, 2020.
In 2019, the company disbursed 130 per cent cash and 10 per cent stock dividend.
Each share of the company, listed on the Dhaka bourse in 2015 under book-building method, closed at Tk 288.90 on Wednesday at the Dhaka Stock Exchange (DSE).
The company’s paid-up capital is Tk 5.26 billion and authorised capital is Tk 8.0 billion, while the total number of securities is 526.99 million.
Sponsor-directors own 90 per cent stake in the company while institutional investors own 7.05 per cent, foreign investors 0.04 per cent and the general public 2.91 per cent as on September 30, 2020, the DSE data show.
