Summit Power Ltd declared a 20 percent stock dividend for the year ended December 31, 2007 at its 11th annual general meeting (AGM) yesterday, says a press release.

Summit Power Ltd (SPL), a concern of Summit Group is a local Independent Power Producer (IPP). Established in 2001, SPL will commission four new plants and its total power generation capacity will reach 215 MW. Considering opportunities, SPL strives to bid for more power plants to expand its generation capacity to 1000MW, twenty percent of the country's energy requirements.

SPL director Anjuman Aziz Khan presided over the AGM that was attended by Tauhidul Islam, managing director, directors Md Latif Khan, Ayesha Aziz Khan, Syed Fazlul Haque, Abbas Uddin Ahmed, Tapan Krishna Podder and Helal Uddin Ahmed, and other high officials.