Power Grid declares no dividend, shares drop 14%
Power Grid shares traded at Tk34.10 this morning, which was 14% lower than the previous session
Shares of Power Grid Company of Bangladesh Ltd dropped over 14% in the opening session this morning (19 January) as it declared no dividend for its shareholders for FY24.
During the session at the Dhaka Stock Exchange (DSE), Power Grid shares traded at Tk34.10, which was 14% lower than the previous session.
In a statement filed on the Dhaka bourse today, the company said the board of the company decided not to pay dividends due to incurring losses.
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As the retained earnings became negative, the company was not in a position to pay dividends by using reserves.
During the last year, its loss per share stood at Tk5.01.
Moreover, in the first quarter of this fiscal year, it extended the losing trend as the company reported a loss per share of Tk2.81, almost double the previous year's same-time loss.
