5 years ago

Stylecraft recommends 90pc dividend

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The board of directors of Stylecraft Limited has recommended 10 per cent cash and 80 per cent stock dividend for the year ended on June 30, 2017, said an official disclosure on Wednesday.

The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on December 4 at 10:30 am the venue will be notified later on.

The record date for entitlement of dividend is on November 2, 2017.

The company has also reported earnings per share (EPS) of Tk 52.47, net asset value per share (NAV) per share of Tk 508.04 and net operating cash flow per share (NOCFPS) of Tk 89.44 for the year ended on June 30, 2017 as against Tk. 75.94, Tk. 443.50 and Tk. 108.33 respectively for the year ended on June 30, 2016.

The company has further informed that they will conduct an extraordinary General Meeting (EGM) on December 4 after the AGM. The agenda of the EGM is to increase the authorised capital of the company from Tk 10 million to Tk 1.0 billion. Venue will be notified later.

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

Each share of the company, which was listed on the Dhaka bourse in 1983, closed at Tk 1721.40 on Tuesday at Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 5.50 million and authorised capital is Tk 10 million while total number of securities is 550,000.

The sponsor-directors own 55.46 per cent stake in the company, institutional investors own 6.78 per cent and the general public own 37.76 per cent as on September 30, 2017, the DSE data shows.

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