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The Financial Express

Two power companies declare interim cash dividends

FE REPORT | Published: February 03, 2020 11:45:11 | Updated: February 04, 2020 13:44:34


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Two power generation companies have declared interim cash dividend for the year to be ended on June 30, 2020 based on financial statements for the half year ended on December 31, 2019.

The companies are: Summit Power Limited and GBB Power Limited, according to separate official disclosures on Sunday.

Summit Power: The board of directors of the company 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 is on February 24, said an official disclosure on Sunday.

The company's consolidated earnings per share (EPS) stood at Tk 2.84 for July-December 2019 as against Tk 2.54 for July-December 2018.

However, it is observed that the company did not audit the half year financial statements and did not comply the BSEC notification dated June 20, 2018 regarding declaring interim dividend.

The leading power generation company's price closed at Tk 41.20 each on Sunday, soaring 5.10 per cent over the previous day.

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.

GBB Power: The board of directors of GBB Power has declared 5.0 per cent interim cash dividend for the year ending on June 30, 2020 based on audited financial statements for the half year period ended on December 31, 2019.

The record date is March 5.

The company's EPS stood at Tk 0.55 for July-December 2019 as against Tk 0.46 for July-December 2018.

Each share of the GBB Power, which was listed on the DSE in 2012, closed at Tk 16.10 each on Sunday, gaining 2.54 per cent over the previous day.

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