FE Report
United Power Generation & Distribution Company dominated the Dhaka bourse turnover chart Sunday while top 10 traded companies grabbed more than 24 per cent transaction.
Market insiders said United Power Generation emerged as turnover leader following the news of its hefty dividend recommendation.
Recently, the Board of Director of the power generation company recommended 90 per cent cash dividend and 10 per cent stock dividend for the year ended on June 30, 2017.
The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on January 27 as the company got clearance on December 13 from the High Court for holding AGM . The record date is on January 8, 2018.
United Power informed that they filed a petition with the High Court on December 06, 2017 to pass an order condoning the delay in holding the 10th AGM of the company directing the company to hold the AGM on January 27, 2018.
"The court on December 13 has passed an order of injunction restraining BSEC, DSE and CSE respectively from treating the company as a "Z" category company for a period up to February 28, 2018," said a disclosure posted on the Dhaka bourse's website on Sunday.
The company has reported earnings per share (EPS) of Tk 11.50, net asset value (NAV) per share of Tk 41.22 and net operating cash flow per share (NOCFPS) of Tk 12.19 for the year ended on June 30, 2017 as against EPS of Tk 15.57, NAV per share of Tk 34.22 and NOCFPS of Tk 15.05 respectively for the 18 months period from January 01, 2015 to June 30, 2016.
The company also disclosed first quarter (Q1) un-audited financial reports for July-September, 2017 on the day. As per the Q1 reports, EPS was Tk 2.95 for July-September, 2017 as against Tk. 2.83 for July-September, 2016.
Each share of the power generation company, which was listed on the Dhaka bourse in 2015 under book-building method, closed at Tk 184.10 on Sunday, advancing 1.26 per cent over the previous day.
The company's paid-up capital is Tk 3.62 billion and authorised capital is Tk 8.0 billion, while the total number of securities is 362.94 million.
Sponsor-directors own 92.02 per cent stake in the company while institutional investors own 3.62 per cent and the general public 4.36 per cent as on November 30, 2017, the DSE data shows.
Meanwhile, the top ten traded companies accounted for more than 24 per cent of the day's total turnover transaction on the DSE.
Paramount Textile followed next, with shares of Tk 122 million changing hands. The company's share price closed at Tk 41.20, losing 3.06 per cent over the previous day.
Pharma Aids notched the third spot, with shares of Tk 98 million changing hands. The company's share price soared 6.43 per cent to close at Tk 431.90 each.
Shahjalal Islami Bank emerged as fourth with shares of Tk 88 million changing hands. The bank's share price closed at Tk 32.30, remaining unchanged over the previous day.
The turnover of Aamra Networks was Tk 83 million. The company's share price rose 6.02 per cent to close at Tk 95 each.
RD Food was also included in the top ten turnover chart with shares of Tk 68 million changing hands, followed by RAK Ceramic Tk 58 million, LankaBangla Finance Tk 58 million, Square Pharma Tk 55 million and legacy Footwear Tk 52 million.
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