The board of directors of publicly listed power generation company, Summit Power Ltd, has recently recommended a 20% final cash dividend to its shareholders for the financial year that ended on 30 June 2020.
The total cash dividend of the company will be 35%, including a 15% interim cash dividend which has already been paid, stated the company disclosure on the Dhaka Stock Exchange (DSE) website on Thursday.
An interim dividend is a dividend payment made before a company's annual general meeting (AGM) and the release of its final financial statements.
The AGM will be held via a digital platform on 14 December this year to secure Summit Power shareholders' approval of the dividend and audited financial statements. The record date is set for 15 November.
Summit Power has reported consolidated earnings per share (EPS) of Tk5.17 for the last financial year, which was 8% higher than the previous year.
The company's consolidated net asset value (NAV) per share was Tk31.50 and consolidated net operating cash flow per share was Tk9.42 for the year that ended on June 30, 2020.
Summit Power was listed with the DSE in 2005. Its paid-up capital is Tk1,067.90 crore.
The closing price of the company per share was Tk40.70 at the DSE on Thursday.
Of the total shares, sponsors and directors of the company hold 63.21%, institutional investors 21.71%, foreign investors 3.65% and the general investors own 11.43%.