Summit Power declares 35% dividend

Summit Power Limited has recommended a 35 percent cash dividend for its shareholders for the year ended on June 30, 2021.

The dividend payout was recommended at the company's board of directors meeting held recently in the capital.

However, final approval regarding the dividends will come from the annual general meeting (AGM) scheduled for December 5, said the company in a filing with the Dhaka Stock Exchange on Monday.

The company has reported EPS of Tk 5.25 and consolidated NAV per share of Tk 34.45 at the end of the last fiscal.

It fixed October 24 the record date for the distribution of the announced dividend among the shareholders.

Meanwhile, the Company has also informed that the power purchase agreement with BPDP regarding Madanganj Power Plant with 102 MW capacities expired on March 31, 2021.

The operation at this plant remains suspended now, it informed, adding that a proposal for extension of the agreement is under consideration of the government.