The board of directors of listed Summit Power has decided to pay 10 percent cash dividend to shareholders for the year ending June 30, 2023. That is, the shareholders of the company will get 1 rupee in cash against each share as dividend.
The dividend declared is equal to 50 percent of the profit made by the company in the ended accounting year. That is, the shareholders of the company will not get half of the profit.
Based on the information provided by the company’s authorities, this information was released from the country’s main stock market Dhaka Stock Exchange (DSE) on Thursday.
The Annual General Meeting (AGM) is scheduled to be held on April 18 for approval by the shareholders of the company’s board of directors regarding the dividend. And the record date has been fixed on March 14.
The company posted an Earnings per Share (EPS) of Rs 2.7 paise during the financial year ended. Based on this profit, the company has decided to pay a dividend of 10 percent or 1 rupee per share to the investors. Meanwhile, the company’s assets per share (NAVPS) stood at 38 taka 2 paise.
DSE said there will be no circuit breaker for the company’s share price to rise today due to the dividend announcement. That is, the share price can increase or decrease as it pleases.
MAS/EA/ASM
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