logo

HeidelbergCement downgraded to ā€˜Zā€™ category

FE Online Report | Sunday, 31 May 2020


HeidelbergCement Bangladesh will be placed in ‘Z’ category from existing ‘A’ category with effect from Monday as the company has recommended ‘no’ dividend due to incurring losses.

The board of directors of the multinational cement manufacturer has recommended ‘no’ dividend for the year ended on December 31, 2019.

The annual general meeting will be held on June 24. Due to pandemic period and closing of trading and settlement activities, record date will be June 14 instead of May 28.

The company has also reported EPS of negative Tk 3.30, NAV per share of Tk 71.88 and NOCFPS of Tk 4.65 for the year ended on December 31, 2019 as against Tk 14.33, Tk. 82.68 and Tk. 11.32 respectively for the same period of the previous year.

The company has witnessed a net loss of Tk 186.66 million during the year 2019 as against net profit of Tk 809.76 million during the year 2018. Thus the EPS has been decreased.

The Stock Brokers and Merchant Bankers are also requested to abstain from providing loan facilities to purchase securities of HeidelbergCement with effect from June 01, 2020 as per BSEC directive in this regard.

Each share of the company, which was listed on the Dhaka Stock Exchange in 1989, closed at Tk 140 on March 25, the last trading session before the government holiday started.

In the last one year, its share traded between Tk 122.20 and Tk 385 each.

The company disbursed 75 per cent cash dividend for the year ended on December 31, 2018.

Its paid-up capital is Tk 565.04 million and authorised capital is Tk 1.0 billion, while the total number of securities is 56.50 million.

The sponsor-directors own 60.67 per cent stake in the company, while the institutional investors own 26.08 per cent, foreign investors 1.11 per cent and the general public 12.14 per cent as on February 29, 2019, the DSE data shows.

babulfexpress@gmail.com