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The Financial Express

Confidence Cement recommends 15pc cash dividend, 20pc stock dividend

FE Online Report | Published: October 30, 2018 12:09:16 | Updated: October 31, 2018 16:25:06


Confidence Cement recommends 15pc cash dividend, 20pc stock dividend

The board of directors of Confidence Cement has recommended 15 per cent cash and 20 per cent stock dividend for the year ended on June 30, 2018, according to an official disclosure on Tuesday.

The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on December 23 in Chattogram.

The record date is November 22.

The company has reported EPS of Tk 6.93, NAV per share of Tk 76.00 and NOCFPS of Tk (9.41) the year ended on June 30, 2018 as against Tk 9.23 (restated), Tk 84.10 and Tk. 9.35 respectively for the same period of the previous year.

The board has also decided to demolish the Unit-1 at the factory premises for the reason that unit-1 (production capacity 600 Metric Ton per day) is not able to deliver the cost effective production for the company as well as maintenance cost and consumption of electricity there to is so high that it is not financially viable for the company.

The board has also decided to install the Slag Dryer plant in that place which will be cost effective for production and ensure the uninterrupted production of the existing Unit-2 and Unit-3 Plants.

The company, which was listed on the Dhaka bourse in 1995, also disbursed 15 per cent cash and 20 per cent stock dividend in 2017.

Each share of the company closed at Tk 208.90 on Monday at Dhaka bourse.

There will be no price limit today on the trading of shares of the company following its corporate disclosure.

The sponsor-directors own 29.87 per cent stake in the company, while institutional investors own 25.50 per cent and the general public 44.63 per cent as on September 30, 2016.

The company’s paid-up capital is Tk 539.92 million and authorised capital is Tk 1.0 billion, while total number of securities is 53.99 million, according to statistics from the DSE.

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