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Sinobangla Industries recommends 10pc cash dividend

FE Online Report | Published: October 22, 2019 12:05:21 | Updated: October 23, 2019 11:43:59


The board of directors of Sinobangla Industries Limited (SBIL) has recommended 10 per cent cash dividend for the year ended on June 30, 2019.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on January 30, 2020 in Munshiganj.

The record date is November 28, 2019.

The company has also reported EPS of Tk 1.73, NAV per share was Tk 25.38 and NOCFPS of negative Tk 9.02 for the year ended on June 30, 2019 as against Tk 1.71, Tk 24.66 (restated) and Tk 9.92 respectively for the same period of the previous year.

The company has also informed that NAV per share of June 30, 2018 has been restated due to a retrospective effect of an adjustment of deferred tax liability and reasons for significant deviation of NOCFPS is up to FY 2017-2018, they recorded working capital loan under Sundry Creditors which is a major source of cash flow from operating activities.

In 2018, the company also disbursed 10 per cent cash dividend.

Each share of the company, which was listed on the Dhaka bourse in 1999, closed at Tk 70.80 each on Monday.

The company’s paid-up capital is Tk 199.97 million and authorised capital is Tk 1.0 billion, while the total number of securities is 19.99 million.

The sponsor-directors own 30.61 per cent stake in the company while the institutional investors own 13.77 per cent and the general public 55.62 per cent as on September 30, 2019, the DSE data shows.

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