The Financial Express

Doreen Power recommends 10pc cash, 10pc stock dividend

| Updated: October 25, 2017 05:10:16

Doreen Power recommends 20pc  dividend

The board of directors of Doreen Power Generations & Systems Limited has recommended 10 per cent cash dividend for shareholders excluding the sponsors/directors and 10 per cent stock dividend for all shareholders for the year ended on June 30, 2017, said an official disclosure on Tuesday.

The sponsors/directors hold 72 million shares out of total 96 million shares of the company and the cash dividend to be payable to the general shareholders is Tk 24.00 million.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on December 11 at 11:00am at Trust Milonayaton in Dhaka.

The record date for entitlement of dividend is on November 15 2017.

The company has also reported earnings per share (EPS) of Tk 7.57, net asset value (NAV) per share of Tk 35.96 and net operating cash flow per share (NOCFPS) of Tk 11.90 for the year ended on June 30, 2017 as against Tk. 0.64, Tk. 34.34 and Tk. 1.13 respectively for the same period of the previous year.

In 2016, the company disbursed 10 per cent cash and 20 per cent stock dividend.

There will be no price limit on the trading of the shares of the Company today (Tuesday) following its corporate declaration.

Each share of the company, which was listed on the Dhaka bourse in 2016, closed at Tk 129.20 on Monday at Dhaka Stock Exchange (DSE).

The power sector company’s paid-up capital is Tk 960 million and authorised capital is Tk 2.0 billion while total number of securities is 96 million.

The sponsor-directors own 75 per cent stake in the company, institutional investors own 7.86 per cent and the general public 17.14 per cent as on September 30, 2017, the DSE data shows.

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