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The Financial Express

ICB recommends 10pc stock dividend

| Updated: October 29, 2019 10:51:09


ICB recommends 10pc stock dividend

The board of directors of Investment Corporation of Bangladesh (ICB) has recommended 10 per cent stock dividend for the year ended on June 30, 2019, said an official disclosure on Monday.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on December 21 in Dhaka.

The record date is November 18, 2019.

The corporation has also reported consolidated EPS of Tk 0.86, consolidated NAV per share of Tk. 44.57 and consolidated NOCFPS of Tk. 0.30 for the year ended on June 30, 2019 as against Tk. 5.97, Tk. 54.54 and Tk. 2.64 respectively for the same period of the previous year.

EPS decreased due to a decrease in capital profit and an increase in loan interest.

In 2018, the state-run entity disbursed 30 per cent cash and 5.0 per cent stock dividend.

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

Each share of the company, which was listed on the Dhaka bourse in 1977, closed at Tk 84.20 each on Sunday at Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 6.97 billion and authorised capital is Tk 10 billion while total number of securities is 607.67 million.

The sponsor-directors own 69.81 per cent stake in the company, the government owns 27 per cent, institutional investors own 1.58 per cent and the general public 1.61 per cent as on September 30, 2019, the DSE data shows.

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