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United Anwara Power Limited (UAnPL), a subsidiary of United Power Generation and Distribution Company, has recommended 600 per cent cash dividend for its shareholders for the year ended on June 30.
The company will spend Tk 600 crore in total for dividend payment. With 99 per cent shareholding in UAnPL, the parent company is accounted for Tk 594 crore of the total dividend, it said in a filing with the Dhaka Stock Exchange (DSE) on Monday.
Last year, the United Power Generation and Distribution Company (UPGDCL) formally acquired 99 per cent shares of the UAnPL with effect from July 01.
According to its website data, the UAnPL has a 300-megawatt HFO fired combined cycle modular power plant at Anwara of Chattogram. It employs high efficiency, state-of-the-art engines and has introduced an environment friendly co-generation facility.
In November, 2016, the UAnPL signed a power purchase agreement with Bangladesh Power Development Board (BPDB).
Since the commencement of its commercial operation, the project has experienced consistently high dispatch, serving the industries and rapid construction projects in the Chattogram zone.
For the FY20, the parent company UPGDCL distributed 145 per cent cash and 10 per cent stock dividend. It has a reserve of Tk 2200 crore.
The company posted an 82 per cent hike in earnings in the first nine months of FY21 as its earnings per share stood at Tk 14.83, against Tk 8.13 over the corresponding period of the previous year.
The UPGCL has six power plants with an accumulated capacity of 484 MW. It bagged a revenue of Tk 1009 crore in FY20.
The company was incorporated in 2007 and listed in capital market in 2015.
