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Square Textile recommends 20pc cash dividend

FE Online Report | Published: October 23, 2019 12:00:29 | Updated: October 24, 2019 11:34:18


Picture used for representational purpose - Collected

The board of directors of Square Textile Ltd has recommended 20 per cent cash dividend for the year ended on June 30, 2019, officials said.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on December 12 at 11:00 in Dhaka.

The board has also approved Tk 300 million for BMRE and purchase of land for further expansion.

The record date for entitlement of dividend is November 19, 2019.

The company has also reported consolidated EPS of Tk 2.18, consolidated NAV per share of Tk. 38.02 and consolidated NOCFPS of negative Tk 3.38 for the year ended on June 30, 2019 as against Tk. 2.32, Tk. 37.74 and Tk. 0.27 respectively for the same period of the previous year.

In 2018, the company disbursed 20 per cent cash and 5.0 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 2002, closed at Tk 37.80 each on Tuesday at Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 1.97 billion and authorised capital is Tk 3.0 billion while total number of securities is 197.25 million.

The sponsor-directors own 61.83 per cent stake in the company, institutional investors own 21.23 per cent, foreign 3.33 per cent and the general public 13.61 per cent as on September 30, 2019, the DSE data shows.

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