Union Capital’s board of directors has recommended no dividend for the year which concluded on December 31, 2020 due to the company suffering losses.
The non-bank financial institution has suffered a consolidated net loss of Tk 531.52 million for the year concluded on December 31, 2020, as against net loss Tk 1.05 billion in 2019.
A consolidated earnings per share (EPS) minus Tk 3.08 has been reported by the company for the year which ended on December 31, 2020 as against the loss of Tk 6.13 per share in 2019.
Consolidated net operating cash flow per share (NOCFPS) of negative Tk 0.65 was reported by the company for the year ended on December 31, 2020, as against the negative Tk 4.93 respectively for the same period of the last year.
The consolidated net asset value (NAV) per share of Tk 4.12 for the year ended on December 31, 2020, which was Tk 7.21 a year earlier.
The annual general meeting (AGM) is set for July 28 at 11 am by using the digital platform. The record date is set on June 22, the company stated through a filing with the Dhaka Stock Exchange (DSE) on May 30.
It was informed by the company that the consolidated EPS for 2020 has improved from 2019 because of the increment of other operating income by deploying recovery effort especially for write off clients, increment of investment income and reduction of operating expenses by 29 per cent from previous year coupled with decrease in provision requirement than the previous year.
The first quarter (Q1) unaudited financial statements for January-March, 2021 was published by the company on May 31. As per the Q1 reports, the company’s EPS stood at minus Tk 0.59 for January-March 2021 as against minus of Tk 0.12 for January-March 2020.
There will be no price limit on the trading of the shares of the company today following its corporate declaration. But, as per the BSEC order dated March 19, 2020, the floor price shall be applicable accordingly.
Each share of the company, which was listed on the DSE in 2007, closed at Tk 7.90 on May 30. Its shares traded between Tk 4.80 and Tk 10.60 in the last one year.
The company also declared no dividend for the year ended on December 31, 2019. However, in 2018, it disbursed 5.0 per cent stock dividend.
The company’s paid-up capital is Tk 1.72 billion, authorised capital is Tk 2.0 billion and the total number of securities is 172.57 million.
The DSE has shown that the sponsor-directors own 35.20 stakes in the company while the institutional investors own 18.03 per cent and the general public 46.77 per cent as of April 30, 2021.