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Matin Spinning recommends 15pc cash dividend

| Updated: November 08, 2017 14:52:38

Matin Spinning recommends 15pc cash dividend

The board of directors of Matin Spinning Mills Limited has recommended 15 per cent cash dividend for the year ended on June 30, 2017, said an official disclosure on Tuesday.

The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on December 27 in Gazipur.

The record date for entitlement of dividend is on November 30 2017.

The company has also reported earnings per share (EPS) of Tk 2.68, net asset value per share (NAV) with revaluation reserve of Tk 41.99 and net operating cash flow per share (NOCFPS) of Tk 2.54 for the year ended on June 30, 2017 as against Tk 3.02, Tk 41.64 and Tk 1.53 respectively for the same period of the previous year.

In 2016, the company disbursed 23 per cent cash dividend.

There will be no price limit on the trading of the shares of the Company on today (Tuesday) following its corporate declaration.

Each share of company, which was listed on the Dhaka bourse in 2014, closed at Tk 40.30 on Monday on the Dhaka Stock Exchange (DSE) trading floor.

The company’s paid-up capital is Tk 974.90 million and authorised capital is Tk 1.50 billion, while the total number of securities is 97.49 million.

Sponsor-directors own 32.72 per cent stake in the company while institutional investors own 52.58 per cent and the general public 14.70 per cent as on September 30, 2017, the DSE data shows.

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