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Power & Energy - November 1, 2023

Power cos fail to meet investors’ expectation

Very poor dividend declared

Staff Correspondent: Out of 23 companies listed in the power and energy sector, 12 companies have declared dividend for the financial year ending June 30, 2023. Out of which the dividend of 7 companies decreased, 1 increased and 4 remained unchanged.
The companies whose dividend has decreased are Baraka Power, Baraka Patenga Power, Dorin Power, GBB Power, Shahjeebazar Power, Titas Gas and United Power Limited.
Baraka Power
The company has declared 5 percent cash dividend to common shareholders for the fiscal year ended June 30, 2023. Last year gave 10 percent cash dividend. That is, the dividend of the company has decreased by 5 percent compared to the previous year. The consolidated earnings per share (EPS) of the company stood at 56 paise for the fiscal year ended. Last year EPS was Tk 2.13.
The Annual General Meeting (AGM) of the company will be held on December 24 through the digital platform. The record date for this has been fixed on November 20.
Baraka Patenga Power
The company has declared 5 percent cash dividend to common shareholders for the fiscal year ending June 30, 2023. Last year gave 10 percent cash dividend. That is, the dividend of the company has decreased by 5 percent compared to the previous year. The company posted a loss of Tk 1.6 per share in the financial year ended. Last year it earned Tk 1.24 per share. As on June 30, 2023, the company’s net asset value per share (NAVPS) stood at Tk 26.81.
The Annual General Meeting (AGM) of the company will be held on December 24 through the digital platform. The record date for this has been fixed on November 20.
Doreen Powers
The company has declared 11 percent cash dividend for the fiscal year ending June 30, 2023. Last year it paid a total of 30 percent dividend including 18 percent cash and 12 percent stock. That is, the dividend of the company has decreased by 19 percent compared to the previous year. The company’s earnings per share (EPS) for the financial year ended was Tk 3.56. Which was Tk 9.21 at the same time last year. At the time of discussion, the asset value per share of the company was Tk 50.47.
The Annual General Meeting (AGM) of the company will be held on 07 December 2023. The record date for this has been fixed on 09 November.
GBB Power
Declared 2 percent cash dividend to common shareholders for the fiscal year ending June 30, 2023. 3 percent cash dividend was paid last year. That is, the dividend of the company has decreased by 1 percent compared to the previous year. The company’s earnings per share (EPS) for the fiscal year ended was Tk 1.00. Which was Tk 1.10 at the same time last year.
The annual general meeting (AGM) of the company will be held on December 26. The record date for this has been fixed on November 30.
Shahjibazar power
Declared 11 percent cash dividend to common shareholders for the fiscal year ended June 30, 2023. Last year it paid a total dividend of 20 percent with 16 percent in cash and 4 percent in stock. That is, the dividend of the company has decreased by 19 percent compared to the previous year. The company’s earnings per share (EPS) for the fiscal year ended was Tk 1.52. Which was Tk 4.14 at the same time last year.
The company will hold its Annual General Meeting (AGM) on January 9. The record date for this has been fixed on December 3.
Titas gas
The company has declared 5 percent cash dividend to shareholders for the fiscal year ended June 30, 2023. 10 percent cash dividend was given last year. That is, the dividend of the company has decreased by 5 percent compared to the previous year. In the financial year ended, the loss per share of the company was Tk 1.67. In the previous financial year, the earnings per share were Tk 3.21. As on June 30, 2023, the company’s net asset value per share stood at Tk 71.75.
The Annual General Meeting (AGM) of the company will be held on December 20, 2023. The record date for this has been fixed on November 15, 2023.
United Power
United Power has declared 80 percent cash dividend to common shareholders for the fiscal year ending June 30, 2023. It paid 170 percent cash dividend the previous year. That is, compared to the previous year, the dividend of the company has decreased by 90 percent. The company’s earnings per share (EPS) for the financial year ended was Tk 13.83. Which was Tk 17.21 at the same time last year. At the end of June 30, 2023, the company’s assets per share (NAVPS) stood at Tk 53.22.
The company will hold its Annual General Meeting (AGM) on December 14. The record date for this has been fixed on November 16.
Dividend of CVO Petrochemical ups
The company has declared 5 percent cash dividend for the fiscal year ended June 30, 2023. This dividend is only for common shareholders. Entrepreneurial directors do not take dividends. The company did not declare any dividend in the previous year. The company’s earnings per share (EPS) for the fiscal year ended at 46 paise. In the previous financial year, the loss per share was Tk 2.63. As on June 30, 2023, the company’s consolidated net asset value per share (NAVPS) stood at Tk 8.37. At the same time last year which was Tk 7.74.
The annual general meeting (AGM) of the company will be held on December 26. The record date for this has been fixed on 23 November.
Dividends of 4 cos remain unchanged
Dhaka Electric Supply Company (DESCO)
The company has declared a 10 percent cash dividend for the fiscal year ended June 30, 2023. The company had paid 10 percent cash dividend in the previous year as well. That is, the dividend remains unchanged. This dividend is declared for general investors only. The company had a loss per share of Tk 13.61 in the financial year ended. Last year share EPS was Tk 1.59. As on June 30, 2023, the company’s net asset value per share stood at Tk 50.62.
The Annual General Meeting (AGM) of the company will be held on February 10, 2024. The record date for this has been fixed as 23 November 2023.
MJL Bangladesh
The company has declared 50 percent cash dividend for the fiscal year ended June 30, 2023. The previous year also gave 50 percent cash dividend. That is, the dividend of the company remains unchanged. The company’s earnings per share (EPS) for the financial year ended was Tk 8.73. EPS was Tk 6.36 in the previous financial year. As on June 30, 2023, the company’s consolidated net asset value per share (NAVPS) stood at Tk 44.27.
The Annual General Meeting (AGM) of the company will be held on December 20. The record date for this has been fixed on November 16.
Intraco Refueling Station
The company has declared a 10 percent cash dividend for the fiscal year ending June 30, 2023. The previous year also gave 10 percent dividend. That is, the dividend of the company remains unchanged. The company’s earnings per share (EPS) for the fiscal year ended was Tk 1.30. In the previous financial year, the EPS was Tk 1.3. As on June 30, 2023, the company’s net asset value per share (NAVPS) stood at Tk 12.46.
The annual general meeting (AGM) of the company will be held on December 12. The record date for this has been fixed on November 16.
Khulna Power
For the financial year ending June 30, 2023, the company has declared a 10 percent cash dividend to shareholders. The previous year also gave 10 percent cash dividend. That is, the dividend of the company remains unchanged.
The loss per share of the company was Tk 1.67. Earnings per share (EPS) in the same period last fiscal was 03 paise. As on June 30, 2023, the company’s assets per share (NAVPS) stood at Tk 19.19.
The company will hold its Annual General Meeting (AGM) on December 28. The record date for this has been fixed on November 20.

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