Bangladesh Power Development Board’s (BPDB or PDB) ownership over Power Grid Company of Bangladesh Limited (PGCB) has been enhanced. The PDB from now on will be holding at least 86 percent of the shares of the PGCB which was previously 76.25 percent. The Board of Directors of PGCB has also approved a 12 percent cash dividend for its shareholders.
The board members at the meeting approved a proposal of issuing shares against the transmission infrastructure and rest of the assets of PDB. The PDB gets a total of 251,814,000 shares worth Tk 251.814 crore with a face value of Tk 10 for each share.
These approvals came from the 20th Annual General Meeting (AGM) of PGCB that held at the Bidyut Bhaban the capital on Saturday. Md. Abul Kalam Azad, the chairman of PGCB and Principal Secretary of the Prime Minister’s Office chaired the AGM.
PGCB’s managing director Masum Al Beruni gave a presentation on the company’s current and previous year’s report and also outlined on the future plan of the company.
PGCB have approved a 12 percent cash dividend for its shareholders for the last fiscal year of 2015-16. The company has earned a total profit of Tk. 122.61 crore after paying taxes in the last fiscal year. Net Asset Value for each share was Tk. 76.89 while the Earn Per Share (EPS) was Tk. 2.66.
In the last fiscal year, PGCB transmitted a total 46,413 million KWhr of electricity which was 15.86 percent more than that of the previous years. PGCB has a total of 15 ongoing projects and 19 more to come in the near future.