Home ›› 27 Sep 2021 ›› Stock
Summit Power Limited—the country’s first independent power producer—recommended a 35 per cent cash dividend to its shareholders for the last fiscal year.
The dividend payout was declared at a board meeting of the company on Sunday.
It paid the same dividend for the previous financial year.
The annual general meeting (AGM) of the company is scheduled for December 5 while the record date for the entitlement of the dividend is October 24.
The company’s consolidated earnings per share (EPS) stood at Tk 5.25 for the FY21, an increase of 1.5 per cent from Tk 5.17 recorded in the previous fiscal year.
Its net asset value (NAV) per share was Tk 34.45 and net operating cash flow per share Tk 8.53 as of June 30, 2021, against Tk 31.50 and Tk 9.42 respectively in the same period of the previous financial year.
On Sunday, its share price declined 1.06 per cent to Tk46.50 on the Dhaka Stock Exchange.
Its market capitalization is Tk5, 019 crore, paid-up capital Tk1068 crore and the number of securities 106.78 crore.
Summit Power Limited, a subsidiary of Singapore-based holding company Summit Power International, owns and operates 15 power plants at different locations in Bangladesh with a total installed capacity of 975.96 megawatt.
It supplies electricity to Bangladesh Power Development Board (BPDB) and Bangladesh Rural Electrification Board (BREB) under the long-term purchase agreements.
It has also 17.64 per cent equity participation in the 155-Khulna Power Company Limited and 30 per cent in the 337.42-megawatt Summit Meghnaghat Power Company Limited.
As of August 31, its sponsor-directors hold 63.21 per cent, institutional investors 19 per cent, foreign investors 3.65 per cent and public 14.14 per cent in the company’s shares.
