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The board of directors of GSP Finance Company (Bangladesh) Limited has decided to issue coupon bearing bond worth Tk 2.0 billion, said an official disclosure on Saturday.
The company will issue the bond for seven years tenure in the name and style “GSP Non-Convertible Fully Redeemable Coupon Bearing Bond of Tk 2.0 billion” through private placement.
The issuance of bond is subject to approval from the regulatory authorities - Bangladesh Bank (BB) and Bangladesh Securities and Exchange Commission (BSEC), the disclosure added.
The board of directors of the company has also recommended 18 per cent cash dividend for the year ended on December 31, 2018.
The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on May 05 at 11:30am in Dhaka.
The record date for entitlement of dividend is on April 15.
The company’s consolidated net profit after tax stood at Tk 310.50 million for the year ended on December 31, 2018 as against Tk 322.15 million in the previous year.
The company has also reported consolidated earnings per share (EPS) of Tk 2.40 for the year ended on December 31, 2018 as against Tk 2.49 in the previous year.
The consolidated net asset value (NAV) per share stood at Tk 22.84 for the year ended on December 31, 2018 as against Tk 20.44 in the previous year.
The consolidated net operating cash flow per share (NOCFPS) stood at Tk 0.57 for the year ended on December 31, 2018 as against negative Tk 5.90 for the previous year.
Each share of the company, which was listed on the Dhaka bourse in 2012, closed at Tk 19.80 on Thursday at Dhaka Stock Exchange (DSE).
Its share traded between Tk 15.80 and Tk 27.10 in the last one year at the prime bourse.
The paid-up capital of the company is Tk 1.29 billion and its authorised capital is Tk 2.0 billion while total number of its securities is 129.22 million, according to the available DSE statistics.
The sponsor-directors own 35.51 per cent stake in the company, while institutional investors own 17.08 per cent, foreign investors 8.03 per cent and the general public 39.38 per cent as of February 28, 2019.
The company disbursed 23.50 per cent stock dividend for the year ended on December 31, 2017.