Western Marine recommends 20pc stock dividend

FE Online Report | Published: September 11, 2018 11:15:35 | Updated: September 13, 2018 12:01:43


The board of directors of Western Marine Shipyard has recommended 20 per cent stock dividend for the year ended on June 30, 2018, said an official disclosure on Tuesday.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on 23 October at 10:00am in Chittagong.

The record date for entitlement of dividend is on October 02.

The company has also reported earnings per share (EPS) of Tk 2.71, net asset value (NAV) per share of Tk 33.02 and net operating cash flow per share (NOCFPS) of Tk 3.70 for the year ended on June 30, 2018 as against Tk 1.91 (restated), Tk 30.57 (restated) and Tk 2.80 respectively for the same period of the previous year.

The company has requested the concerned shareholders to update their BO accounts with present mailing address, contact number, bank details and e-mail address with their respective DP (Depository Participant) before record date.

The company disbursed 3.0 per cent cash and 12 per cent stock dividend for the year ended on June 30, 2017.

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 Stock Exchange (DSE) in 2014, closed at Tk 27.60 on Monday at DSE.

The company’s paid-up capital is Tk 1.66 billion and authorised capital is Tk 3.0 billion, while the total number of securities is 166.28 million.

The sponsor-directors own 31.65 per cent stake in the company while the institutional investors own 18.59 per cent and the general public 49.76 per cent as on July 31, 2018, the DSE data shows.

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