Baraka Patenga Power approves 12.5% cash dividend

The shareholders of Baraka Patenga Power Limited have approved a 12.5 per cent cash dividend for the financial year 2020-21.

The approval came at the company’s 11th annual general meeting (AGM) held virtually on Saturday, said a press release.

At the AGM, Gulam Rabbani Chowdhury, chairman of the listed power generation company, briefed the participants about the recent activities.

He said Baraka Patenga Power has been listed on the capital market and raised an amount of Tk 225 crore through initial public offering (IPO) in the last year.

Apart from that, the company invested in 51 per cent of total shares in a newly established securities house, namely Baraka Securities Limited.

In addition, Baraka Patenga Power is planning to invest in other profitable projects, he added.

Addressing the AGM, its Managing Director Monzur Kadir Shafi disclosed the current financial condition of the company.

He said the consolidated profit of Baraka Patenga Power Limited stood at Tk 64.31 crore in financial year 2020-2021. It posted earnings per share of Tk 6.47 and net assets value per share of Tk 28.48 for the year.

Moderated by Company Secretary Mohammad Rana, members of the board of directors and shareholders attended the meeting.