GQ Ball Pen declares 5.0pc cash dividend only for general investors

The board of directors of GQ Ball Pen Industries has recommended 5.0 per cent cash dividend for the general shareholders excluding sponsors/directors for the year ended on June 30, 2020.

The sponsors/directors hold 3,738,813 shares out of total 8,928,091 shares of the company and the cash dividend, payable to the general shareholders, is Tk 2,594,639, said an official disclosure on Thursday.

The annual general meeting (AGM) will be held on December 30 at 11:00 am through a digital platform.  The record date is December 15.

The company has also reported earnings per share (EPS) of Tk 7.64 in the negative, net asset value (NAV) per share of Tk 134.21 and net operating cash flow per share (NOCFPS) of Tk 2.79 in the negative for the year ended on June 30, 2020, as against Tk 1.72 in the negative, Tk 148.23 and Tk 3.11 in the negative respectively for the same period of the previous year.

There will be no price limit on the trading of the shares of the company today (26-11-2020) following its corporate declaration. However, as per the BSEC order dated March 19, 2020, the floor price shall be applicable accordingly.

Each share of the company, which was listed on the Dhaka Stock Exchange (DSE) in 1986, closed at Tk 233 on Wednesday.

In 2019, the company disbursed 10 per cent cash dividend.

The company’s paid-up capital is Tk 89.28 million and authorised capital is Tk 500 million while the total number of securities is 8.92 million.

The sponsor-directors own 41.88 per cent stake in the company, while the institutional investors own 1.47 per cent, foreign investors 0.05 per cent and the general public 56.60 per cent as on October 31, 2020, the DSE data shows.

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