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Monno Stafflers recommends 20pc stock dividend

FE Online Report | Published: October 24, 2019 11:55:24 | Updated: October 27, 2019 10:38:42


Picture used for representational purpose - Collected

The board of directors of Monno Jute Stafflers Ltd has recommended 20 per cent stock dividend for the year ended on June 30, 2019, said an official disclosure on Thursday.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on December 5.

The record date for entitlement of dividend is November 14, 2019.

The company has also reported EPS of Tk. 2.74, NAV per share of Tk. 14.59 and NOCFPS of Tk. 11.06 for the year ended on June 30, 2019 as against Tk. 1.94 (restated), Tk. 11.84 (restated) and Tk. 15.48 (restated) respectively for the same period of the previous year. 

The company has paid short term loan during the year, as a result current liabilities of the company has reduced significantly. Therefore, NAV per share increased from the last year.

In 2018, the company disbursed 350 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 1982, closed at Tk 1,090.40 Wednesday at Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 20.70 million and authorised capital is Tk 1.0 billion while total number of securities is 2.07 million.

The sponsor-directors own 42.98 per cent stake in the company, institutional investors own 9.47 per cent, foreign 0.05 per cent and the general public 47.50 per cent as on September 30, 2019, the DSE data shows.

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