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The Financial Express

Summit Power declares 15pc interim dividend

FE Online Report | Published: February 02, 2020 11:22:22 | Updated: February 03, 2020 11:47:11


Summit Power declares 15pc interim dividend

The board of directors of Summit Power Ltd has declared 15 per cent interim cash dividend for the year ending on June 30, 2020 based on un-audited financial statements for the half year period ended on December 31, 2019.

The record date for entitlement of interim cash dividend is February 24, said an official disclosure on Sunday.

However, it is observed that the company did not audit the half year financial statements and did not comply the BSEC Notification BSEC/CMRRCD/2006-158/208/admin/81 dated June 20, 2018 regarding declaring interim dividend.

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

The power generation company’s share closed at Tk 39.20 on Thursday last.

The company’s share traded between Tk 35.80 and Tk 44.70 in the last one year.

The Summit Power, which was listed on the DSE in 2005, disbursed 35 per cent cash dividend for the year ended on June 30, 2019.

The company’s paid-up capital is Tk 10.67 billion and authorised capital Tk 15 billion while total number of securities is 1.06 billion.

The sponsor-directors own 63.18 per cent stake in the company, while institutional investors own 22.17 per cent, foreign investors 3.65 per cent and the general public 11 per cent as of December 31, 2019, the DSE data showed.

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