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Silco Pharma recommends 10% cash dividend

Staff Correspondent
25 Nov 2021 00:00:00 | Update: 25 Nov 2021 02:23:39
Silco Pharma recommends 10% cash dividend

Silco Pharmaceuticals Limited has recommended a 10 per cent cash dividend to its shareholders, other than directors, for the financial year 2020-21.

The dividend declaration came at a meeting of the listed drug-maker’s board of directors held recently, it said in a filing with the Dhaka Stock Exchange (DSE) on Wednesday. The latest dividend is same to that of the previous year.

The company made it clear that only general shareholders, independent directors and sponsors, other than directors, will be entitled to the dividend and the payable amount is totalled at Tk 6.35 crore.

The directors hold more than 4.02 crore shares out of total 10.38 crore shares of the company, added the filing.

To get the recommended dividend approved, the company will hold annual general meeting on January 01 while the record date has been set as December 12.

Silco Pharma failed to make a healthy profit in last financial year, even though, it retained the previous year’s dividend.

It reported earnings per share of Tk 0.82 for the year ending on June 30, up by 2.5 per cent from Tk 0.80 of previous year.

The company also reported net asset value per share of Tk 21.85 and net operating cash flow per share of Tk 2.48 for FY21, against Tk 21.64 and Tk 1.41 respectively of the previous year.

Each of Silco Pharma shares changed hands at Tk 25.5 at the Dhaka bourse on Wednesday. The share price increased 53 per cent to Tk 35.3 in August.

The company’s market capitalization is around Tk 265 crore and paid-up capital is Tk 104 crore. It was listed with capital market in 2019 and carries out share trading under ‘A’ category.

Founded in 1996, the drug-maker manufactures 108 products at its plant in Sylhet’s BSCIC Industrial Estate. Each year the company introduces more than 10 to 20 new products.

Meanwhile, Premier Leasing and Finance Limited, a listed non-bank financial institute, has decided to provide no dividend to its shareholders for the year ending on December 31, 2020, due to big losses.

In a filing with the DSE, the NBF reported consolidated earnings per share (EPS) of Tk 2.93 negative for 2020, against Tk 0.17 for the same period of the previous year.

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