Far East Knitting recommends 10pc stock dividend

FE Online Report | Published: October 07, 2018 11:23:22 | Updated: October 08, 2018 10:35:33


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The board of directors of Far East Knitting and Dyeing Industries has recommended 10 per cent stock dividend for the year ended on June 30, 2018.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on November 22 at 10:30am in Gazipur, said an official disclosure on Wednesday.

The record date is October 25, 2018.

The company has also reported earnings per share (EPS) of Tk 0.52, net asset value (NAV) per share of Tk 21.45 and net operating cash flow per share (NOCFPS) of Tk 1.41 for the year ended on June 30, 2018 as against Tk 1.07, Tk 18.38 and Tk 1.88 respectively for the same period of the previous year.

The company disbursed 15 per cent stock dividend for the year ended on June 30, 2017.

There will be no price limit on the trading of the shares of the company today following its corporate declaration.

Each share of the company, which was listed on the Dhaka Stock Exchange (DSE) in 2014, closed at Tk 15.90 on Thursday last.

The company’s paid-up capital is Tk 1.85 billion and authorised capital is Tk 3.0 billion, while the total number of securities is 185.67 million.

The sponsor-directors own 71.05 per cent stake in the company while institutional investors own 8.75 per cent and the general public 20.20 per cent as on September 30, 2018, the DSE data shows.

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