Saiham Cotton recommends 12pc cash dividend

| Updated: October 25, 2017 05:37:48

Saiham Cotton recommends 12pc  dividend

The board of directors of Saiham Cotton has recommended 12 per cent cash dividend for the year ended on June 30, 2017, said an official disclosure on Tuesday.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on December 14 at 11:00am at Mill Premises in Madhabpur, Habigonj.

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

The company has also reported earnings per share (EPS) of Tk 1.06, net asset value per share (NAV) per share of Tk 22.82 and net operating cash flow per share (NOCFPS) of Tk (0.68) for the year ended on June 30, 2017 as against Tk. 0.94, Tk. 22.67 and Tk. 2.24 respectively for the same period of the previous year.

In 2016, the company also disbursed 10 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 18.90 each on Monday at Dhaka Stock Exchange (DSE).

The textile company’s paid-up capital is Tk 1.48 billion and authorised capital is Tk 2.0 billion while total number of securities is 148.77 million.

The sponsor-directors own 46.43 per cent stake in the company, institutional investors own 23.75 per cent and the general public 29.82 per cent as on September 30, 2017, the DSE data shows.

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