KDS Accessories recommends 15 per cent dividend

The company posts 31pc revenue growth

FE Report | Saturday, 25 August 2018

The board of directors of KDS Accessories Limited has recommended 10 per cent cash and 5.0 per cent stock dividends for the fiscal year ended on June 30, 2018.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on October 25 in Chattogram, said an official disclosure.

The record date for entitlement of dividend is September 18, 2018.

The Chattogram-based leading garment accessories producer posted a 31 per cent growth in revenue year-on-year for the fiscal year ended on June 30, 2018.

The company's total revenue stood at Tk 2.07 billion for the fiscal year against Tk 1.58 billion in the previous fiscal year, according to the disclosure.

During the period, the company's net profit stood at Tk 132.98 million against Tk 125.58 million in the previous year, registering an increase of 5.89 per cent over the previous year.

The company has also reported earnings per share (EPS) of Tk 2.21, net asset value (NAV) per share of Tk 24.88 and net operating cash flow per share (NOCFPS) of Tk 3.08 for the year ended on June 30, 2018 as against Tk 2.20, Tk 2.81, Tk 24.80 respectively for the same period of the previous year.

In 2017, the company also disbursed 10 per cent cash and 5.0 per cent stock dividends.

Each share of the company, which was listed on the Dhaka bourse in 2015, closed at Tk 81.70 each on Monday, the last trading day before the Eid-ul-Azha vacation.

The company's paid-up capital is Tk 600.60 billion and authorised capital is Tk 2.0 billion, while the total number of securities is 60.06 million.

The sponsor-directors own 78.93 per cent stake in the company while institutional investors own 6.17 per cent and the general public 14.90 per cent as of June 30, 2018, the DSE data show.

KDS Accessories is the largest garment accessories producing company in Bangladesh. Since beginning, the company strived to provide the best quality of services to its clients, according to the company's website.

The company is engaged in production of different types of accessories like cartons, labels, tags, printings, narrow fabrics, elastics, heat transfer printing and button.

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