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BATBC recommends 500pc cash, 200pc stock dividend

FE Online Report | Published: March 12, 2019 11:21:13 | Updated: March 13, 2019 11:43:09


The board of directors of British American Tobacco Bangladesh Company (BATBC) has recommended 500 per cent cash and 200 per cent dividend for the year ended on December 31, 2018, said an official disclosure on Tuesday.

The board has also decided to increase authorised capital from Tk 600 million to Tk 5.40 billion by amending Clause 5 of the Memorandum of Association and Clause 5 of the Articles of Association, subject to the approval of the shareholders in the extraordinary general meeting (EGM).

The EGM and annual general meeting (AGM) will be held on April 28 at 10am and 10:30am respectively at The Ball Room of Pan Pacific Sonargaon Hotel in Dhaka.

The record date for EGM and AGM is April 04.

The multinational company has also reported earnings per share (EPS) of Tk 166.87, net asset value (NAV) per share of Tk 492.15 and net operating cash flow per share (NOCFPS) of Tk 150.13 for the year ended on December 31, 2018 as against Tk 130.50, Tk 385.21 and Tk 162.22 respectively for the same period of the previous year.

There will be no price limit on the trading of the shares of the company today (Tuesday) following its corporate declaration.

Each share price of the company, which was listed on the Dhaka bourse in 1977, closed at Tk 3,949.50 on Monday at Dhaka Stock Exchange (DSE).

The company also disbursed 600 per cent cash dividend for the year ended on December 31, 2017. In 2016, the company also distributed 600 per cent cash dividend.

The company’s paid-up capital is Tk 600 million and authorised capital is also Tk 600 million, while the total number of securities is 60 million.

The sponsor-directors own 72.91 per cent stake in BATBC, while government owns 0.64 per cent, institutional investors 9.76 per cent, foreign investors 16.01 per cent and the general public only 0.68 per cent as on February 28, 2019, the DSE data shows.

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