Far East Knitting recommends 15pc stock div

| Updated: October 22, 2017 22:54:00

Far East Knitting recommends 15pc stock div

The board of directors of Far East Knitting & Dyeing Industries has recommended 15 per cent stock 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 17 at 10.30am at Chandra Kailakoir, Gazipur. The record date for entitlement of dividend is on October 26, 2017.

The company has also reported earnings per share (EPS) of Tk 2.16, net asset value per share (NAV) of Tk 21.14 and net operating cash flow per share (NOCFPS) of Tk 1.07 for the year ended on June 30, 2017 as against Tk. 1.82, Tk. 19.43 and Tk. 0.57 respectively for the same period of the previous year.In 2016, the company disbursed 5.0 per cent cash dividend and 10 per cent stock dividend.

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

Each share of the company, which was listed on the Dhaka bourse in 2014, closed at Tk 23 on Thursday last at Dhaka Stock Exchange (DSE).The company’s paid-up capital is Tk 1.61 billion and authorized capital is Tk 3.0 billion while total number of securities is 161.45 million.The sponsor-directors own 71.05 per cent stake in the company, institutional investors own 9.65 per cent and the general public own 19.30 per cent as on August 31, 2017, the DSE data shows.


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