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The Financial Express

United Power tops the chart for third straight week

Ten cos grab 25pc weekly turnover


| Updated: September 01, 2019 13:27:58


United Power tops the chart for third straight week

Ten most traded companies accounted for one-fourth of transactions on the Dhaka Stock Exchange (DSE) in the outgoing week, with the United Power Generation & Distribution Company making it to the top of the weekly turnover list for the third consecutive week.

Market analysts said investors continued to show their appetite for the United Power shares, as the company recently recommended a healthy dividend -- 130 per cent cash and 10 per cent stock -- for the year ended on June 30, 2019.

The record date for entitlement of the dividend is September 8.

The United Power and its major shareholder United Mymensingh Power recently executed an agreement with an international private equity group for an investment of Tk 8.5 billion (approximately US$100 million), which also encouraged the investors, brokers said.

According to DSE data, about 2.51 million shares of United Power were traded, generating a turnover of nearly Tk 996 million, which was 4.44 per cent of the week's total turnover of Tk 22.43 billion.

The power generation company's share closed at Tk 395.10 each on Thursday, the last trading session of the week, losing 3.82 per cent over the previous week.

The United Power, listed on the DSE in April 2015, disbursed 90 per cent cash and 20 per cent stock dividends in 2018.

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

The sponsor-directors own 90 per cent stake in the company, while institutions own 6.54 per cent, foreign investors 0.04 per cent and the general public 3.42 per cent as of July 31, 2019, the DSE data show.

Silco Pharma came second on the turnover chart, with shares worth Tk 672 million changing hands. The pharma company's share price soared 12.50 per cent to close at Tk 35.10 each on Thursday.

Monno Ceramic clinched the third spot, with shares worth Tk 542 million changing hands. The company's share closed at Tk 214.80.

Beacon Pharma emerged as the fourth, with shares worth Tk 499 million changing hands. The company's share rose 3.25 per cent to close at Tk 25.40.

Orion Infusions notched the fifth spot, with shares worth Tk 491 million changing hands. The company's share closed 11.13 per cent lower at Tk 63.10.

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