Western Marine recommends 22pc div for two yrs

FE Online Report | Published: September 01, 2017 12:13:03 | Updated: October 24, 2017 22:10:41

The board of directors of Western Marine Shipyard has recommended 10 per cent stock dividend for the year ended on June 30, 2015 and 12 per cent stock dividend for year ended on June 30, 2016, said an official disclosure.


The dividend recommendations came at a meeting of board directors held on Thursday as the High Court has passed a Judgment allowing the petition of the company to hold the AGM for the year 2014-2015 and 2015-2016 within November 30, 2017.


The final approval will come during the annual general meeting (AGM) scheduled to be held on October 12. The record date for entitlement of dividend is on September 26, 2017.


The company has also reported earnings per share (EPS) 1.65 and net asset value per share (NAV) per share of Tk 37.07 for the year ended on June 2015. And EPS was 2.48 and NAV per share was Tk 39.55 for the year ended on June 2016.


There will be no price limit on the trading of the shares of the company on September 4 (Monday) when the market will resume after Eid-ul-Azha vacation following its corporate declaration.


The 'Z' category share, which was listed on the Dhaka bourse in 2014, closed at Tk 43.70 each on Thursday last at Dhaka Stock Exchange (DSE).


The sponsor-directors own 37.31 per cent stake in the company, while institutional investors own 15.67 per cent and the general public own 47.02 per cent as on July 31, 2017, the DSE data showed.


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