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Northern Jute recommends 100pc cash dividend

FE Online Report | Published: October 16, 2019 12:18:16 | Updated: October 18, 2019 10:33:37


The board of directors of Northern Jute Manufacturing Company Limited has recommended 100 per cent cash dividend for the year ended on June 30, 2019, said an official disclosure on Wednesday.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on December 8 at RAOWA Convention Hall-3 (Eagle), VIP Road, Mohakhali, Dhaka-1206.

The record date is November 05, 2019.

The company has also reported earnings per share (EPS) of Tk 23.29, net asset value (NAV) per share of Tk 80.33, and operating cash flow per share (NOCFPS) of negative Tk 22.66 for the year ended on June 30, 2019 as against negative Tk 17.15, (restated), Tk 57.04 and negative Tk 28.92 respectively for the same period of the previous year.

In 2018, the company recommended “No” dividend.

Each share of the company, which was listed on the Dhaka bourse in 1994, closed at Tk 860.40 each on Tuesday.

The company’s share price hovered between Tk 405 and 1,489.80 in the last one year.

The company’s paid-up capital is Tk 21.42 million and authorised capital is Tk 100 million, while the total number of securities is 2.14 million.

The sponsor-directors own 21.87 cent stake in the company and the general public 78.13 per cent as on September 30, 2019, the DSE data shows.

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