The Financial Express

Argon Denims recommends 15pc dividend

| Updated: September 20, 2019 19:35:19

Argon Denims recommends 15pc dividend

The board of directors of Argon Denims Ltd has recommended 10 per cent cash and 5.0 per cent stock dividend for the year ended on June 30, 2019.

The final approval the of dividend will come during the annual general meeting (AGM) scheduled to be held on October 28, said an official disclosure on Thursday.

The record date is October 13, 2019.

The company has also reported earnings per share (EPS) of Tk Tk 3.06, NAV per share of Tk. 27.93, and NOCFPS of Tk. 3.19 for the year ended on June 30, 2019 as against Tk. 3.14, Tk. 26.47, and Tk. 4.21 respectively for the same period of the previous year.

The company also informed that retained amount of bonus share is to be used as capital for further business expansion. Bonus share is declared out of accumulated profit, not from capital reserve of revaluation reserve or any unrealised gain or out of profit earned prior to incorporation of the company that the post dividend retained earnings become negative or a debit balance.

In 2018, the company disbursed 15 per cent cash dividend.

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 2013, closed at Tk 22.10 on Wednesday.

The company’s paid-up capital is Tk 1.19 billion and authorised capital is Tk 1.50 billion, while the total number of securities is 119.97 million.

The sponsor-directors own 36.08 per cent stake in the company, institutional investors own 36.57 per cent and the general public 27.35 per cent as on August 31, 2019, the DSE data shows.




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