Square pharma recommends 49pc dividend

FE Online Report | Tuesday, 22 October 2019

The board of directors of Square Pharmaceuticals has recommended 42 per cent cash and 7.0 per cent stock dividend for the year ended on June 30, 2019, officials said.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on December 12 at 10:00 in Dhaka.

The record date for entitlement of dividend is on November 19, 2019.

The board has also approved Tk 2.0 billion for BMRE, capital machinery and lands for future expansion.

The company has also reported consolidated earnings per share (EPS) of Tk 16.03, consolidated net asset value (NAV) per share of Tk 86.03 and consolidated net operating cash flow per share (NOCFPS) of Tk 15.71 for the year ended on June 30, 2019 as against Tk 14.69, Tk 73.28 and Tk 12.55 respectively for the same period of the previous year.

In 2018, the pharma company’s disbursed 36 per cent cash and 7.0 per cent stock dividend.

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

Each share of the company, which was listed on the Dhaka bourse in 1995, closed at Tk 238.20 each on Tuesday at Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 7.89 billion and authorised capital is Tk 10 billion while total number of securities is 789 million.

The sponsor-directors own 34.43 per cent stake in the company, institutional investors own 10.24 per cent, foreign 19.88 per cent and the general public 35.45 per cent as on September 30, 2019, the DSE data shows.

[email protected]