The Financial Express

Gemini Sea Food recommends 125pc stock dividend

| Updated: October 27, 2017 12:59:36

Gemini Sea Food recommends 125pc dividend

The board of directors of Gemini Sea Food Limited has recommended 125 per cent stock dividend for the year ended on June 30, 2017, said an official disclosure on Thursday.

The board has also decided to increase its authorised capital from Tk 20 million to 400 million.

The board has also approved Tk 300 million against BMRE proposal for capital machineries and renovation, expansion of factory buildings.

The final approval of the dividend will come during the Annual General Meeting (AGM) scheduled to be held on December at New Celebrity Convention Centre in Dhanmondi in Dhaka.

The record date for entitlement of dividend is on November 16, 2017.

The company has also reported earnings per share (EPS) of Tk 13.06, net asset value (NAV) per share of Tk 26.03 and net operating cash flow per share (NOCFPS) of Tk (106.98) for the year ended on June 30, 2017 as against Tk. 13.81, Tk. 21.45 and Tk. 43.80 respectively for the same period of the previous year.

In 2016, the company disbursed 20 per cent cash and 50 per cent stock dividend.

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

Each share of Libra Infusions, which was listed on the Dhaka bourse in 1985, closed at 603.20 on Wednesday at the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 16.50 million and authorised capital is Tk 20 million, while the total number of securities is 1.65 million.

Sponsor-directors own 39.60 per cent stake in the company, while institutional investors own 3.86 per cent and the general public 56.54 per cent as on September 30, 2017, the DSE data shows.

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