GPH Ispat recommends 10pc dividend

| Updated: October 25, 2017 11:35:20

GPH Ispat recommends 10pc dividend

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

Due to unavoidable circumstances, the board has also decided to extend the rights share issue fund utilisation time for one year from the existing time schedule subject to general shareholders’ approval in the Extraordinary General Meeting (EGM).

The final approval of dividend will come during the Annual General Meeting (AGM) and EGM scheduled to be held on December 10 at 10:30am and 11:00am respectively at Chittagong Club in Chittagong.

The record date for entitlement of dividend is on November 14, 2017.

The company has also reported earnings per share (EPS) of Tk 1.83, net asset value per share (NAV) of Tk 16.15 and net operating cash flow per share (NOCFPS) of Tk 3.83 for the year ended on June 30, 2017 whereas EPS of Tk 2.65, NAV per share of Tk 15.45 and NOCFPS of Tk 0.02 for the 14 months period from May 01, 2015 to June 30, 2016.

 In 2016, the company also disbursed 12 per cent cash dividend.

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

Each share of the company, which was listed on the Dhaka bourse in 2012, closed at Tk 38.80 each on Monday at Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 3.11 billion and authorised capital is Tk 10 billion while total number of securities is 311.85 million.

The sponsor-directors own 56.03 per cent stake in the company, institutional investors own 12.91 per cent and the general public 31.06 per cent as on September 30, 2017, the DSE data shows.

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