BD Autocars recommends 15pc dividend

The company plans to issue rights shares


FE Online Report | Published: September 27, 2018 11:57:44 | Updated: October 05, 2018 11:55:30


BD Autocars recommends 15pc dividend

The board of directors of Bangladesh Autocars Limited has recommended 3.0 per cent cash and 12 per cent stock dividend for the year ended on June 30, 2018.

The board has also decided to implement installation of LPG facilities in the existing premises or any other suitable location from company’s own resources, said an official disclosure on Thursday.

In this regard, the company will apply to Bangladesh Securities and Exchange Commission (BSEC) for approval of the rights shares at one rights share for existing one share at a premium of Tk 100 per share subject to the approval of shareholders in the AGM and BSEC.

The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on November 29 in Dhaka. The record date is October 18, 2018.

The company has also reported earnings per share (EPS) of Tk 1.52, net asset value (NAV) per share of Tk. 4.30 and net operating cash flow per share (NOCFPS) of Tk. 2.09 for the year ended on June 30, 2018 as against Tk. 0.95, Tk. 2.85 and Tk. 2.72 respectively for the same period of the previous year.

In 2017, the company disbursed only 3.0 per cent stock dividend.

Meanwhile, the company’s share trading suspended since August 19 as per order of the BSEC due to ‘abnormal’ price hike of its shares.

As the trading of the shares is suspended as per order of BSEC, price limit open is not applicable today following its corporate declaration.

The last trading day’s closing price of the company’s share was Tk 436 each.

In the last one year, its share price traded between Tk 99 and Tk 490.50 each.

The company was listed on the Dhaka Stock Exchange (DSE) in 1988.

The company’s paid-up capital is Tk 38.63 million and authorised capital is Tk 100 million, while the total number of securities is 3.86 million.

The sponsor-directors own 38.25 per cent stake in the company, institutional investors 7.46 per cent, and the general public 54.29 per cent as on August 31, 2018, the DSE data shows.

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