The Financial Express

Envoy Textiles recommends 7pc cash, 5pc stock dividend

| Updated: October 23, 2017 22:45:47

Envoy Textiles recommends 12pc div

The board of directors of Envoy Textiles Limited has recommended 7.0 per cent cash and 5.0 per cent stock dividend for the year ended on June 30, 2017, said an official disclosure on Thursday.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on December 14 at 10:00 am in Dhaka.

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

The company has also reported earnings per share (EPS) of Tk 2.05, net asset value per share (NAV) per share of Tk 38.51 and net operating cash flow per share (NOCFPS) of Tk (2.00) for the year ended on June 30, 2017 as against Tk 2.26 (restated), Tk. 37.62 (restated) and Tk. 1.01 (restated) respectively for the 9 months period ended on June 30, 2016.

In 2016, the textile maker disbursed 12 per cent cash and 3.0 per cent stock dividend.

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

Each share of the company, which made its share trading debut in March this year, closed at Tk 38.10 on Thursday at Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 1.56 billion and authorised capital is Tk 4.0 billion while total number of securities is 156.61 million.

The sponsor-directors own 45.59 per cent stake in the company, institutional investors own 36.77 per cent, foreign 4.24 per cent and the general public 13.40 per cent as on September 30, 2017, the DSE data shows.

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