Eastern Cables recommends 10pc stock dividend

FE Online Report | Published: December 03, 2018 11:33:09 | Updated: December 04, 2018 12:42:50


The board of directors of Eastern Cables Limited has recommended 10 per cent stock dividend for the year ended on June 30, 2018, said an official disclosure on Monday.

The final approval will come during the annual general meeting scheduled to be held on January 26, 2019 in Chittagong.

The record date for entitlement of dividend is on December 24.

The state-run company has also reported earnings per share (EPS) of negative Tk 0.15, net asset value (NAV) per share of Tk 30.47 and net operating cash flow per share (NOCFPS) of Tk 2.19 for the year ended on June 30, 2018 as against Tk 1.19, Tk 30.61 and Tk 1.89 respectively for the year ended on June 30, 2017.

Each share of the company, which was listed on the Dhaka Stock Exchange in 1986, closed at Tk 197.80 on Sunday.

The company’s paid-up capital is Tk 240 million and authorised capital is Tk 600 million, while the number of securities is 24 million.

The sponsor-directors own 0.01 per cent stake in the company, while government owns 51 per cent, institutional investors own 11.50 per cent and the general public 37.49 per cent as on October 31, 2018.

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