S Alam Cold Rolled Steels recommends 10pc dividend

| Updated: October 26, 2017 11:49:25

S Alam Cold Rolled Steels recommends 10pc dividend

The board of directors of S Alam Cold Rolled Steels Limited has recommended 10 per cent cash dividend for the year ended on June 30, 2017, said an official disclosure on Wednesday.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on January 12, 2018 in Chittagong.

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

The company has also reported consolidated earnings per share (EPS) of Tk 1.11, consolidated net asset value (NAV) per share of Tk 19.55 and consolidated net operating cash flow per share (NOCFPS) of Tk (18.39) for the year ended on June 30, 2017 which was Tk. 1.08, Tk. 19.44 and Tk. 6.85 respectively for the 9 months period from October 01, 2015 to June 30, 2016.

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

Each share of the company, which was listed on the Dhaka bourse in 2006, closed at Tk 33.20 each on Tuesday at Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 983.71 million and authorised capital is Tk 3.0 billion while total number of securities is 98.37 million.

The sponsor-directors own 48.50 per cent stake in the company, institutional investors own 29.64 per cent and the general public 21.86 per cent as on September 30, 2017, the DSE data shows.

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