Northern Jute goes to 'Z' category today
The company recommends 'no' dividend
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Northern Jute Manufacturing Company Limited will be placed in 'Z' category today (Tuesday) as the company recommended 'no' dividend for the year ended on June 30, 2018.
Presently, the company is in 'A' category. It disbursed 20 per cent cash and 20 per cent stock dividend for the year ended on June 30, 2017.
The company has also witnessed a loss for the year ended on June 30, 2018. During the year, the company witnessed a loss of Tk 17.15 per share against the EPS (earnings per share) of Tk 4.27 (restated) for the same period of the previous year.
It also reported NAV (Net Asset Value) per share of Tk. 57.04 against Tk 91.03 calculated in 2017.
The sponsor-directors of Northern Jute Manufacturing Company hold only 15.27 per cent shares as of August 31, 2018, according to information of Dhaka Stock Exchange (DSE).
As per the existing securities rules, the sponsor-directors are to hold at least 30 per cent shares jointly.
According to DSE information, general shareholders hold 84.73 per cent shares as of August 31, 2018.
Northern Jute Manufacturing Company was listed with the stock exchanges in 1994.
The company's share price closed at Tk 315.90 each on Monday with a loss of 1.92 per cent or Tk 6.20.