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CMC Kamal recommends 11pc dividend

| Updated: November 28, 2017 13:02:44

CMC Kamal recommends 11pc dividend

The board of directors of CMC Kamal Textile Mills Limited has recommended 11 per cent cash dividend for the year ended on June 30, 2017, said an official disclosure on Tuesday.

The final approval of dividend will come during the annual general meeting (AGM). Date, time and venue of the AGM will be notified later.

The record date for entitlement of dividend is on December 17.

The company has reported earnings per share (EPS) of Tk 1.92, net asset value (NAV) per share of Tk 19.02 and net operating cash flow per share (NOCFPS) of Tk 2.26 for the year ended on June 30, 2017 as against Tk 1.21, Tk 17.10 and Tk 0.51 respectively for the same period of the previous year.

In 2016, the company disbursed 13 per cent stock dividend.

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

Each share of the textile sector company, which was listed on the Dhaka bourse in 1997, closed at Tk 26.80 on Monday at the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 1.09 billion and authorised capital is Tk 5.0 billion, while the total number of securities is 109.39 million.

Sponsor-directors own 31.35 per cent stake in the company while institutional investors own 11.36 per cent and the general public 57.29 per cent as on October 31, 2017, the DSE data shows.

The company disclosed first quarter (Q1) EPS for July-September period of 2017 on Tuesday.

As per un-audited Q1 reports, EPS was Tk 0.45 for July-September, 2017 as against Tk 0.37 for July-September, 2016.

 NOCFPS was Tk 0.05 for July-September, 2017 as against Tk. 0.04 for July-September, 2016. NAV per share was Tk. 19.45 as of September 30, 2017 and Tk. 19.02 as of June 30, 2017.

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