24 November 2019


Summit Power approves 35% cash dividend

Photo Caption: Presided over by the Chairman of Summit Power Limited Muhammed Aziz Khan, the 22nd Annual General Meeting (AGM) was held at Krishibid Institution Bangladesh (KIB) Complex, Dhaka.

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 & Company Secretary Swapon Kumar Pal FCA along with other senior officials.

English Newspaper
The Daily Star, November 25, 2019
Dhaka Tribune, November 24, 2019
Observer, November 24, 2019
Daily Sun, November 25, 2019
Daily Asian Age, November 25, 2019
The Financial Express, November 25, 2019
The Independent, November 25, 2019
New Age, November 25, 2019
Bangladesh Post, November 24, 2019
News Today, November 24, 2019

Bengali Newspaper
Prothom Alo, November 25, 2019
Ittefaq, November 25, 2019
Bonik Barta, November 25, 2019
Daily Janakantha, November 25, 2019
Manobzamin, November 24, 2019
Daily Naya Diganta, November 25, 2019
Ajker Bazza, November 25, 2019
Desh Rupantor, November 25, 2019
Jai Jai Din, November 25, 2019
Kaler Kantho, November 26, 2019
Samakal, November 26, 2019

Online Portal
banglanews24, November 24, 2019
Bangladesh Sangbad Sangstha (BSS), November 24, 2019
Energy & Power, November 24, 2019, November 24, 2019
The Business Standard, November 24, 2019
Arthosuchak, November 24, 2019
Sharenews24, November 24, 2019
Daily Stock Bangladesh, November 25, 2019, November 24, 2019
Corporate Sangbad, November 25, 2019
Energy Bangla, November 24, 2019

Television Media
Channel i, November 24, 2019
ATN News, November 24, 2019