Confidence's 113MW plant goes into operation

A 113-megawatt power plant of the Confidence Power Bogura Limited has started generating electricity on a commercial basis. 

Confidence Power Holdings Limited holds 99 percent ownership of the Confidence Power Bogura while Confidence Cement owns 41 percent shares of the Confidence Power Holdings. 

Company Secretary of Confidence Cement Md Delowar Hossain told The Business Standard that the oil-fired power plant started commercial operation on November 21. "The Bangladesh Power Development Board has signed an agreement to purchase electricity from the Bogura plant for 15 years." 

Now Confidence Cement owns plants with a total power generation capacity of 393.36MW. 

Of them, Zodiac Power Chittagong Limited's 54.36MW plant has been in commercial operation since August 30 this year. Confidence Cement owns 51 percent shares of Zodiac Power. 

The 113MW plant of Confidence Power Rangpur Limited has been in operation since August 12. Confidence Power Holdings owns 99 percent shares of the company. 

The 113MW power plant of Confidence Power Bogura Unit-2 Limited has been in operation since March 30. 

Confidence Power Holdings earned Tk32.21 crore profit in the fiscal year 2018-19. Of that Confidence Cement received T13.20 crore. 

For that fiscal year, Confidence Cement recommended 15 percent cash dividend and another 15 percent stock dividend for its shareholders. 

The company will hold its annual general meeting on December 22 this year. 

In the last fiscal year, the company's earnings per share (EPS) was Tk6.01, which was Tk5.67 in the previous fiscal year. 

In the first quarter of the current fiscal year, Confidence Cement's EPS has reached Tk2.51, up from Tk1.81 of the same period of the previous fiscal year. 

The closing price of Confidence Cement's shares was Tk111.10 at the Dhaka Stock Exchange (DSE). The highest share price of the company, at the DSE, was Tk208 during the last one year.