Dhaka, Sunday, May 31, 2020 08:00 PM   
     
Home Energy BD Energy World Green Energy Opinion Interview Environment Business Others Archive
LATEST >
বাংলা সংস্করণ
   
Summit Power approves 35% cash dividend

Upon approval in presence of the shareholders at the 22nd Annual General Meeting of Summit Power Limited, the Chairman Muhammed Aziz Khan said, “After two consecutive years of offering 30% dividend, we are happy to announce 35% dividend this year.”

He also added, “This year to ensure best maintenance of the power plants, Summit awarded Wärtsilä, the Finnish technology group biggest ever signed service deal, in terms of MW generation, in the Bangladesh’s power and energy sector.

For project financing of Ace Alliance Power Limited (AAPL), we raised capital through issuance of Preference Shares worth BDT 805 Million and USD 68.60 Million long term loan from IDCOL, ICD and OFID.

Also for securing the Company from exposure in London Inter-bank Offered Rate (LIBOR) against Company’s foreign currency borrowing, we entered into Interest Rate Swap (IRS) deals. We have also implemented Enterprise Resource Planning (ERP) suite for better accountability and transparency.”

Presided over by Chairman of Summit Power Limited Muhammed Aziz Khan, the meeting was attended by Vice Chairman Md Latif Khan, Director Anjuman Aziz Khan, Director Jafer Ummeed Khan, Director Faisal Karim Khan, Director Azeeza Aziz Khan, Director Syed Fazlul Haque FCA, Managing Director Lt Gen (Retd) Engr. Abdul Wadud, Independent Director Faruq Ahmed Siddiqi, Director Helal Uddin Ahmed, Director Arif Al Islam and Financial Controller and Company Secretary Swapon Kumar Pal FCA along with other senior officials.

Print PDF

   You may also like

Category: Power
Retail power tariff hiked by 5.3 percent; to be effective from March 1

Category: Power
Govt plans to import electricity from Nepal

Category: Power
Power Div seeks tax holiday for private plants to miss deadline

Category: Power
PDB proposes 23% hike in bulk power prices

Category: Power
Tk 12.26b project underway to boost transmission capacity

Category: Power
Saudi company signs MoU for investing $2.5b in power sector

Category: Power
Japanese co buys 22pc stake of Summit Power

Category: Power
Payra Power Plant set to go into production from Dec

Category: Power
Govt for 60,000MW power generation capacity by 2041
     
    RECENT STORIES   MOST READ
    FOLLOW US ON FACEBOOK
    Recent Power Stories
Retail power tariff hiked by 5.3 percent; to be effective from March 1
Govt plans to import electricity from Nepal
Power Div seeks tax holiday for private plants to miss deadline
PDB proposes 23% hike in bulk power prices
Tk 12.26b project underway to boost transmission capacity
Saudi company signs MoU for investing $2.5b in power sector
Japanese co buys 22pc stake of Summit Power
Payra Power Plant set to go into production from Dec
Govt for 60,000MW power generation capacity by 2041
DPDC appoints consultant for power project


Explore the energynewsbd.com
Home
Energy World
Opinion
Environment
Others
Energy BD
Green Energy
Interview
Business
Archive
About Us Contact Us Terms & Conditions Privacy Policy Advertisement Policy