The Financial Express

Renata recommends 110pc dividend

| Updated: October 31, 2019 11:46:00

Renata recommends 110pc dividend

The board of directors of Renata Ltd has recommended 100 per cent cash and 10 per cent stock dividend for the year ended on June 30, 2019, said an official disclosure on Wednesday.

The board has also decided to increase authorised capital of the company from Tk 1.0 billion to 2.50 billion as well as amendment of Clause V and 5 of Memorandum and Articles of Association.

They also informed that Renata Oncology Ltd and Renata Ltd will be merged under the provision of Section 228 & 229 of the Companies Act, 1994 subject to the consent of Shareholders and approval from the High Court division of Supreme Court of Bangladesh.

The annual general meeting and the extraordinary general meeting will be held on December 21 at 11:00:00am and 12:30pm respectively in Dhaka.

The record date for AGM & EGM is November 20.

The company has also reported consolidated EPS of Tk. 46.63, Consolidated NAV per share of Tk. 230.90 and Consolidated NOCFPS of Tk. 52.54 for the year ended on June 30, 2019 as against Tk. 38.57, Tk. 192.56 and Tk. 32.93 respectively for the same period of the previous year.

In 2018, the company disbursed 195 per cent cash and 15 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 1979, closed at Tk 1302.70 on Tuesday at Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 805.36 million and authorised capital is Tk 1.0 billion while total number of securities is 80.53 million.

The sponsor-directors own 51.16 cent stake in the company, the institutional investors own 19.43 per cent, foreign investors 22.41 per cent and the general public 7.0 per cent as on September 30, 2019, the DSE data shows.


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