Four cos recommend dividend up to 410 per cent

FE Report | Published: October 13, 2018 10:33:51 | Updated: October 24, 2018 14:18:19


Four listed companies have recommended dividend between 6.0 per cent and 410 per cent last week for the year ended on June 30, 2018.

The companies which recommended dividend are: Stylecraft, Generation Next Fashions, Far East Knitting & Dyeing Industries and Bangladesh Shipping Corporation.

Stylecraft: The board of directors of Stylecraft, a textile company, has recommended 410 per cent stock dividend for the year ended on June 30, 2018.

It was the highest stock dividend recommended so far by any listed company in the country's capital market history, according to Dhaka Stock Exchange (DSE).

In 2017, Dutch-Bangla Bank disbursed 394.17 per cent stock dividend, the second highest stock dividend.

The company's share price was soaring in the recent times as the investors poured money in it, despite the company informed the DSE several times that there was no reason for the unusual price hike of their shares.

Against the backdrop of skyrocketing of its share price, the securities regulator sent the company to the spot market on August 19 this year.

Within six months, its share price surged more than 158 per cent or Tk 2,754 each. The company's share traded between Tk 1,301 and Tk 4,900 in the last one year.

However, its share price plunged 21 per cent or Tk 951 each last week to close at Tk 3,547.40 each on Thursday.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on December 17 in Dhaka. The record date is November 04, 2018.

The company, which was listed on the DSE in 1983, disbursed 10 per cent cash and 80 per cent stock dividend for the year ended on June 30, 2017.

The company's paid-up capital is Tk 9.90 million and authorised capital is Tk 500 million, while the total number of securities is 990,000.

The sponsor-directors own 50.39 per cent stake in the company while institutions own 7.19 per cent and the general public 42.42 per cent as on September 30, 2018, the DSE data shows.

Generation Next Fashions: Generation Next Fashions has recommended 10 per cent stock dividend for the year ended on June 30, 2018.

The AGM will be held on November 22 in Dhaka. The record date is October 30, 2018.

The company has also reported EPS of Tk 1.01, NAV per share of Tk 12.60 and NOCFPS of Tk 0.09 for the year ended on June 30, 2018 as against Tk 0.54, Tk 11.59 and Tk 0.94 respectively for the same period of the previous year.

The company also disbursed 10 per cent stock dividend for the year ended on June 30, 2017.

Far East Knitting: The board of directors of Far East Knitting has recommended 10 per cent stock dividend for the year ended on June 30, 2018.

The AGM will be held on November 22. The record date is October 25, 2018.

The company disbursed 15 per cent stock dividend for the year ended on June 30, 2017.

BSC: The board of directors of Bangladesh Shipping Corporation has recommended 6.0 per cent cash dividend for the year ended on June 30, 2018.

The AGM will be held on November 24 and the record date is October 25, 2018.

The state-run corporation disbursed 10 per cent cash dividend last year.

babulfexpress@gmail.com

Share if you like