Apex Spinning recommends 20pc cash dividend

| Updated: October 25, 2017 05:08:09

Apex Spinning recommends 20pc cash div

The board of directors of Apex Spinning has recommended 20 per cent cash dividend for the year ended on June 30, 2017, said an official disclosure on Sunday.

The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on December 21 at Spectra Convention Center in Dhaka.

The record date for entitlement of dividend is November 15, 2017.

The company has also reported earnings per share (EPS) of Tk 2.76, net asset value (NAV) per share of Tk 52.77, and consolidated net operating cash flow per share (NOCFPS) of BDT 14.67 for the year ended on June 30, 2017 as against BDT Tk. 2.79, Tk. 51.67, and Tk. (12.27) respectively for the same period of the previous year.

In 2016, the spinning mills disbursed 22 per cent cash dividend.

Each share of the company, which was listed on the Dhaka bourse in 1994, closed at BDT 139.40 each on Thursday last at Dhaka Stock Exchange (DSE).

The company’s paid-up capital is BDT 84 billion and authorised capital is BDT 300 million while total number of securities is 8.40 million.

The sponsor-directors own 57.29 per cent stake in the company, while institutional investors own 21.94 per cent, foreign 4.25 per cent, and the general public 16.52 per cent as of September 30, 2017, the DSE data shows.

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