Dragon Sweater recommends 25pc dividend

FE Online Report | Published: August 20, 2018 10:13:11 | Updated: August 21, 2018 15:46:04


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The board of directors of Dragon Sweater has recommended 5.0 per cent cash and 20 per cent stock dividend for the year ended on June 30, 2018.

The final approval of the dividend will come during the Annual General Meeting (AGM) scheduled to be held on November 12 at 11:00am in Dhaka, said an official disclosure on Sunday.

The record date for entitlement of dividend is on September 13, 2018.

The company has also reported earnings per share (EPS) of Tk 2.25, net asset value (NAV) per share of Tk 21.95 and net operating cash flow per share (NOCFPS) of Tk 1.23 for the year ended on June 30, 2018 as against Tk 1.32, Tk 13.73, Tk 0.04 respectively for the same period of the previous year.

In 2017, the company disbursed 15 per cent stock dividend.

Meanwhile, the Bangladesh Securities & Exchange Commission (BSEC) sent the Dragon Sweater to “spot trading” along with four other companies from Sunday due to their abnormal price hike.

In spot trading, an investor is allowed to purchase shares of a company only when his account has cash money. No one is allowed to purchase shares against sales of shares or loan.

The company’s paid-up capital is Tk 1.32 billion and authorised capital is Tk 1.50 billion, while the total number of securities is 132.25 million.

The sponsor-directors own 37.82 per cent stake in the company while institutional investors own 30.40 per cent and the general public 31.78 per cent as on June 30, 2018, the DSE data shows.

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