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Confidence Cement aims to double production capacity from Dec 30

| Updated: November 28, 2017 15:27:37

Confidence Cement’s production capacity double from Dec 30

The board of directors of Confidence Cement Limited has planned to start commercial production (Unit-3) on December 30, 2017.

“The company has informed that its (Unit-3) erection and commissioning works will be completed within this month, November, 2017,” said a statement posted on the Dhaka Stock Exchange (DSE) website on Tuesday.

After completion of unit-3 the production capacity of the company will be increased by 2,500 M.T. to 4,500 M.T. per day, which is more than double of its current capacity, said the statement.

Each share of the company, which was listed on the Dhaka bourse in 1995, closed at Tk 149.80 on Monday at the DSE.

The board of directors of the Chittagong-based cement maker has recommended 15 per cent cash and 20 per cent stock dividend for the year ended on June 30, 2017.

The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on December 24 at Factory premises in Chittagong.

The company has reported EPS of Tk 11.07, NAV per share of Tk 84.01 and NOCFPS of Tk 9.35 the year ended on June 30, 2017 as against Tk 10.22, Tk. 73.71 and Tk 7.85 respectively for the same period of the previous year.

The company disbursed 37.50 per cent cash dividend for the 18 months period ended on June 30, 2016.

The company’s paid-up capital is Tk 449.94 million and authorised capital is Tk 1.0 billion, while the total number of securities is 44.99 million.

Sponsor-directors own 25.50 per cent stake in the company while institutional investors own 22.06 per cent, foreign 0.11 per cent and the general public 52.33 per cent as on October 31, 2017, the DSE data shows.

Confidence is the first private sector cement manufacturing company in Bangladesh, established in early 1990s.

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