United Power maintains ‘AAA’ credit rating for fifth year
Analysts cheer the company’s effort to keep the books loan-free as much as possible
United Power Generation and Distribution Company Ltd has maintained its "AAA" long-term credit rating and "ST-1" short-term rating for the fifth consecutive year.
Emerging Credit Rating Ltd – one of the top local rating agencies – has recently rated the listed power generation company based on its latest annual audited financial statement and other relevant qualitative and quantitative information till date.
United Power got listed on the stock market in 2015 and has grown to a Tk13,649 crore company to be the fifth largest listed entity at the Dhaka Stock Exchange in terms of market capitalisation.
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Analysts cheer the company's effort to keep the books loan-free as much as possible, while the company is in the top tier among listed firms in terms of maximising returns on shareholders' equity.
Since its debut, the company has also been in the top among homegrown companies in terms of paying dividends.
For the 2019-20 fiscal year, it has announced 145% cash and 10% stock dividends against its net profit per share of Tk11.26.
