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The Financial Express
Swasti Lankabangla Swasti Lankabangla

Envoy Textile recommends 5.0pc cash dividend

| Updated: October 15, 2020 12:13:21


Envoy Textile recommends 5.0pc cash dividend

The board of directors of Envoy Textile has recommended 5.0 per cent cash dividend for the year ended on June 30, 2020.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on December 28 at 11:00am through digital platform, according to an official disclosure on Tuesday.

The record date for entitlement of dividend is November 15.

The company has also reported EPS of Tk. 1.63, NAV per share of Tk. 40.57 and NOCFPS of Tk. 1.56 for the year ended on June 30, 2020 as against Tk. 3.31, Tk. 38.35 and Tk. 2.58 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 following its corporate declaration; however, as per the BSEC order dated March 19, 2020, the floor price shall be applicable accordingly.

The textile company disbursed 15 per cent cash dividend in 2019.

Each share of the company, which was listed on the Dhaka bourse in 2012, closed at Tk 29.80 each on Monday at Dhaka Stock Exchange (DSE).

However, its share price plunged 12.47 per cent within first 30 minutes of trading on Tuesday following the lower dividend declaration.

The company’s paid-up capital is Tk 1.67 billion and authorised capital is Tk 4.0 billion while total number of securities is 167.73 million.

The sponsor-directors own 45.58 per cent stake in the company, institutional investors own 41.90 per cent, foreign 0.07 per cent and the general public 12.45 per cent as on August 31, 2020, the DSE data shows.

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