Square Textile recommends 20pc cash, 5pc cash dividend

FE Online Report | Published: October 17, 2017 12:10:16 | Updated: October 24, 2017 16:06:21


The board of directors of Square Textile Limited has recommended 20 per cent cash and 5.0 per cent stock dividend for the year ended on June 30, 2017, said an official disclosure on Tuesday.

The board has also approved Tk 300 million for BMRE (Balancing, Modernisation, Rehabilitation and Expansion) and purchase of lands for further expansion.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on December 4 at 11:00 am at Samson H Chowdhury Centre Dhaka Club in Dhaka.

The record date for entitlement of dividend is on November 8, 2017.

 The company has also reported consolidated earnings per share (EPS) of Tk 2.30, consolidated net asset value per share (NAV) per share of Tk 41.05 and consolidated net operating cash flow per share (NOCFPS) of Tk 1.29 for the year ended on June 30, 2017 as against Tk 4.14, Tk 41.03 and Tk 7.37 respectively for the same period of the previous year.

In 2016, the company disbursed 25 per cent cash and 10 per cent stock dividend.

 There will be no price limit on the trading of the shares of the company today (Tuesday) following its corporate declaration.

 Each share of the company, which was listed on the Dhaka bourse in 2002, closed at Tk 64.50 each on Monday at Dhaka Stock Exchange (DSE).

 The company’s paid-up capital is Tk 1.78 billion and authorised capital is Tk 3.0 billion while total number of securities is 178.91 million.

The sponsor-directors own 61.83 per cent stake in the company, institutional investors own  19.24 per cent, foreign 6.73 per cent and the general public 12.20 per cent as on September 30, 2017, the DSE data shows.

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