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Stylecraft recommends 150pc stock dividend

FE Online Report | Published: October 30, 2019 11:34:07 | Updated: October 31, 2019 11:12:21


The board of directors of Stylecraft Ltd has recommended 150 per cent stock dividend for the year ended on June 30, 2019, said an official disclosure on Wednesday.

The board has also approved Tk 76 million as BMRE, for future product line expansion.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on December 15, 2019 in Dhaka.

The record date is November 28, 2019.

The textile company has also reported EPS of Tk 7.74, NAV per share of Tk 66.07 and NOCFPS of Tk 3.48 for the year ended on June 30, 2019 as against Tk 3.08, Tk 58.33 and Tk 16.39 respectively for the same period of the previous year.

In 2018, the company disbursed 410 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 1983, closed at Tk 576.20 on Tuesday at Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 50.49 million and authorised capital is Tk 500 million while total number of securities is 5.04 million.

The sponsor-directors own 46.62 cent stake in the company, the institutional investors own 2.92 per cent, and the general public 50.46 per cent as on September 30, 2019, the DSE data shows.

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