MI Cement recommends 20pc cash dividend 

| Updated: October 25, 2017 04:39:53

MI Cement recommends 20pc dividend

The board of directors of M. I. Cement Factory Limited has recommended 20 per cent cash dividend for the year ended on June 30, 2017, said an official disclosure on Monday.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on December 4 in Dhaka at 11:00am at Factory Premises in Munshiganj.

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

The company has also reported earnings per share (EPS) of Tk 4.45, net asset value per share (NAV) per share of Tk 47.80 and net operating cash flow per share (NOCFPS) of Tk 1.73 for the year ended on June 30, 2017 as against Tk. 5.01, Tk. 45.29 and Tk. 10.68 respectively for the same period of the previous year.

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

Each share of the company, which was listed on the Dhaka bourse in 2011, closed at Tk 86.80 each on Sunday at Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 1.48 billion and authorised capital is Tk 5.0 billion while total number of securities is 148.50 million.

The sponsor-directors own 67.08 per cent stake in the company, institutional investors own 17.17 per cent, foreign 0.34 per cent and the general public 15.41 per cent as on September 30, 2017, the DSE data shows.

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