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Midas Financing recommends 2.50pc stock dividend

FE Online Report | Published: May 23, 2019 11:52:17 | Updated: May 24, 2019 10:40:57


Photo collected from internet has been used for representational purpose only

The board of directors of Midas Financing Ltd has recommended 2.50 per cent stock dividend for the year ended on December 31, 2018.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on July 25 in Dhaka, said an official disclosure on Thursday.

The record date for entitlement of dividend is June 25.

The company has also reported consolidated EPS of Tk 0.09, consolidated NAV per share of Tk 10.98 and consolidated NOCFPS of negative Tk 2.23 for the year ended on December 31, 2018 as against consolidated EPS of Tk 1.65, consolidated NAV per share of Tk 10.89 and consolidated NOCFPS of negative Tk 1.27 respectively for the same period of the previous year.

The company also disclosed first quarter un-audited financial statements. As per the Q1 reports, its consolidated EPS was Tk 0.31 for January-March 2019 as against Tk 0.38 for January-March 2018.

Consolidated NOCFPS was Tk 1.72 for January-March 2019 as against negative Tk 1.70 for January-March 2018.

Consolidated NAV per share was Tk 11.28 as on March 31, 2019 and Tk 10.98 as on December 31, 2018.

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 2002, closed at Tk 16.60 on Wednesday.

In the last one year, its share traded between Tk 14.20 and Tk 35 each.

The company disbursed 10 per cent stock dividend in 2017.

The company’s paid-up capital is Tk 1.32 million and authorised capital is Tk 2.0 billion while the total number of securities is 132.29 million.

The sponsor-directors own 39.26 per cent stake in the company, while the institutional investors own 28.27 per cent, foreign investors 1.96 per cent and the general public 30.51 per cent as on April 30, 2019, the DSE data shows.

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