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Summit Power generates highest turnover

February 24 record date

FE Report | February 20, 2020 00:00:00

Summit Power Ltd dominated the Dhaka bourse's transaction chart on Wednesday while ten most-traded stocks accounted for 22 per cent turnover.

Market analysts said investors showed their appetite on Summit Power shares ahead of record date for entitlement of interim cash dividend.

Recently, the company has declared 15 per cent interim cash dividend for the year ending on June 30, 2020 based on financial statements for the half year that ended on December 31, 2019. The record date is on February 24.

Trading of the shares of the Summit Power will be allowed only in the spot market and block transactions from February 20 to February 23.

Trading of the shares of the company will remain suspended on February 24 due to record date for entitlement of interim dividend.

According to data available with the Dhaka Stock Exchange, about 6.79 million shares of Summit Power were traded, generating a turnover of nearly Tk 301 million, which was 3.60 per cent of the day's total turnover of Tk 8.37 billion.

The leading power generation company's share traded between Tk 43.30 and Tk 45, before closing at Tk 44.70 each on Wednesday, gaining 3.76 per cent over the previous session.

The company's consolidated earnings per share (EPS) stood at Tk 2.84 in six months for July-December 2019 as against Tk 2.54 for July-December 2018.

The consolidated net asset value (NAV) per share was Tk 31.12 as on December 31, 2019 and Tk 32.40 as on June 30, 2019.

The Summit Power, which was listed on the DSE in 2005, disbursed 35 per cent cash dividend for the year ended on June 30, 2019.

The company's paid-up capital is Tk 10.67 billion and authorised capital is Tk 15 billion while the total number of securities is 1.06 billion.

The sponsor-directors own 63.18 per cent stake in the company, while institutional investors own 22.44 per cent, foreign investors 3.65 per cent and the general public 10.73 per cent as of January 31, 2020, the DSE data showed.

Orion Pharma came second on the turnover chart, with shares worth Tk 232 million changing hands. The company's share price rose 5.01 per cent to close at Tk 47.90.

LafargeHolcim clinched the third spot, with shares worth Tk 211 million changing hands. The company's share closed at Tk 47.70, losing 2.45 per cent.

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