BSRM Steels recommends 20pc dividend

FE Online Report | Published: September 26, 2018 12:06:55 | Updated: October 05, 2018 11:55:31

The board of directors of BSRM Steels Limited has recommended 10 per cent cash and 10 per cent stock dividend for the year ended on June 30, 2018.

The final approval the of dividend will come during the annual general meeting (AGM) scheduled to be held on December 03 in Chattogram, said an official disclosure on Wednesday.

The record date is on October 21, 2018.

The country’s leading steel maker also reported earnings per share (EPS) of Tk 5.27, net asset value (NAV) per share of Tk 37.48 and net operating cash flow per share (NOCFPS) of Tk 2.90 for the year ended on June 30, 2018 as against Tk. 4.98, Tk. 34.03 and Tk. 1.07 respectively for the same period of the previous year.

In 2017, the company disbursed 35 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 2009, closed at Tk 68.20 on Tuesday.

The company’s paid-up capital is Tk 3.41 billion and authorised capital is Tk 5.0 billion, while the total number of securities is 341.77 million.

The sponsor-directors own 70.57 per cent stake in the company, institutional investors 18.10 per cent, foreign 0.28 per cent and the general public 11.05 per cent as on August 31, 2018, the DSE data shows.

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