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KDS Accessories recommends 15pc dividend

FE Online Report | Published: September 08, 2019 11:27:41 | Updated: September 10, 2019 10:27:12


Photo collected from internet has been used for representational purpose only

The board of directors of KDS Accessories Ltd has recommended 10 per cent cash and 5.0 per cent stock dividend for the year ended on June 30, 2019, said an official disclosure on Sunday.

The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on November 7 at 11am at Chittagong Boat Club at Patenga in Chattogram.

The record date for entitlement of dividend is October 01.

The Chittagong-based company has also reported earnings per share (EPS) of Tk 2.20, net asset value (NAV) per share of Tk 24.94 and net asset value per share (NOCFPS) of Tk 2.02 for the year ended on June 30, 2019 as against Tk 2.21, Tk 24.88 and Tk 3.08 respectively for the same period of the previous year.

The company also informed the declared bonus shares that will be utilised for process upgradation and innovation, is declared out of the distributable profit of the company and is not declared from capital reserve or revaluation reserve or any unrealised gain or out of profit earned prior to incorporation of the company or through reducing paid-up capital or through doing anything so that the post dividend retained earnings become negative or a debit balance.

In 2018, the company also disbursed 10 per cent cash dividend and 5.0 per cent stock dividend.

There will be no price limit on the trading of the shares of the company today following its corporate declaration.

Each share of the company, which was listed on the Dhaka bourse in 2015, closed at Tk 54.10 on Thursday last at Dhaka Stock Exchange (DSE).

Its share traded between Tk 49.80 and Tk 81.50 in the last one year.

The company’s paid-up capital is Tk 630.63 million and authorised capital is Tk 2.0 billion while total number of securities is 63.06 million.

The sponsor-directors own 76.15 per cent stake in the company, while the institutional investors own 4.32 per cent and the general public own 19.53 per cent as on July 31, 2019, the DSE data shows.

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