Mithun Knitting downgraded to ‘Z’ category

Mithun Knitting & Dyeing will be placed in ‘Z’ category from existing ‘A’ category with effect from Monday on Dhaka Stock Exchange (DSE) as the company has recommended no dividend for the year ended on June 30, 2017.

The board of directors of the company has recommended no dividend for the year ended on June 30, 2017. In 2016, the company disbursed 20 per cent stock dividend.

The annual general meeting (AGM) will be held on December 30 at 12:15pm on the factory premises.

The company has also reported earnings per share (EPS) of Tk (1.84), net asset value (NAV) per share of Tk 21.99 and net operating cash flow per share (NOCFPS) of Tk 1.92 for the year ended on June 30, 2017 as against Tk 2.15, Tk 23.83 and Tk (1.01) respectively for the same period of the previous year.

“The stock brokers and merchant bankers are requested to abstain from providing loan facilities to purchase any security of Mithun Knitting with effect from November 27, 2017 as per securities regulator directive in this regard,” said a statement posted on the Dhaka Stock Exchange (DSE) on Sunday.

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

Each share of the Mithun Knitting, which was listed on the Dhaka bourse in 1994, closed at Tk 28.50 on Thursday last on the DSE.

The company’s paid-up capital is Tk 324.91 million and authorised capital is Tk 800 million while the total number of securities is 32.49 million.

Sponsor-directors own 17.20 per cent stake in the company while institutional investors own 10.06 per cent and the general public 72.74 per cent as on October 31, 2017, the DSE data shows.

-bb/rmc//