Union Capital has declared 'no' dividend for the two consecutive years that ended on December 31, 2020 and 2019 as the company continued incurring losses.
The company has incurred a consolidated net loss of Tk 531.52 million for the year ended on December, 31, 2020 as against net loss of Tk 1.05 billion in the previous year.
The company has also reported consolidated earnings per share (EPS) Tk 3.08 in the negative for the year ended on December 31, 2020 as against loss of Tk 6.13 per share in the previous year.
The company's consolidated net operating cash flow per share (NOCFPS) was Tk 0.65 in negative for the year ended on December 31, 2020 as against Tk 4.93 in negative respectively for the same period of the previous year.
The consolidated net asset value (NAV) per share of Tk 4.12 for the year ended on December 31, 2020 which was Tk 7.21 a year earlier.
The annual general meeting (AGM) will be held on July 28 at 11:00 am using the digital platform. The record date is set on June 22, the company said in a filing with the Dhaka Stock Exchange (DSE) on Monday.
The company informed that consolidated EPS for 2020 has improved due to increment of other operating income by deploying recovery effort, especially for write-off clients, increment of investment income, and reduction of operating expenses by 29 per cent from previous year and decrease in provision requirement than the previous year.
The company also published first quarter (Q1) un-audited financial statements for January-March, 2021 on Monday. As per the Q1 reports, the company's EPS was minus Tk 0.59 for January-March 2021 as against minus of Tk 0.12 for January-March 2020.
Following the no dividend news, its share price plunged by 12.66 per cent to close at Tk 6.90 on Monday, far below from the face value.
Union Capital, which was listed on the DSE in 2007, also declared no dividend for the year ended on December 31, 2019. However, in 2018, it disbursed 5.0 per cent stock dividend.
The company's paid-up capital is Tk 1.72 billion, authorised capital is Tk 2.0 billion and the total number of securities is 172.57 million.
The sponsor-directors own 35.20 per cent stakes in the company while the institutional investors own 18.03 per cent and the general public 46.77 per cent as of April 30, 2021, the DSE data shows.
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