The Khulna Power Company Limited (KPCL) will invest in the under-construction United Payra Power Plant Limited located in Patuakhali. The company has decided to acquire 35 percent ordinary shares in United Payra Power Plant Ltd, said an official.
The power plant has a production capacity of 150 megawatts. The Bangladesh Power Development Board will buy electricity from this plant for 15 years. In this connection, a bilateral agreement was signed last August.
According to agreement, United Payra Power will develop the plant on Build-Own-Operate (BOO) basis. The required commercial operation date (RCOD) of the power plant is November 21, 2020.
Each share of the Khulna Power traded between Tk 41 and Tk 43, before closing at Tk 43 on Thursday, soaring 9.97 per cent over the previous day. It was also the day's top gainer.
The Khulna Power, which was listed in Dhaka bourse in 2010, has approved 40 per cent cash dividend for the year ended on June 30, 2019. In 2018, it disbursed 30 per cent cash and 10 per cent stock dividend.
The company's paid-up capital is Tk 3.97 billion and authorised capital is Tk 7.0 billion while total number of securities is 397.41 million.
The KPCL's net profit fell by 38 percent in fiscal year 2018-19 as the KPCL-1 went out of production. At that time, the company's net profit stood at Tk139 crore and its earnings per share (EPS) was Tk3.50. In the previous fiscal year, its net profit was Tk223 crore and the EPS was Tk6.18
At present, its authorised capital is Tk700 crore and the paid-up capital is Tk397 crore. The KPCL has Tk573 crore in its reserve.
Corporate sponsor United Mymensingh Power Limited has 35.28 percent stake in the KPCL while Summit Power Limited and Summit Corporation Limited hold 17.64 percent and 17.04 percent share respectively.
