Three companies declare dividends

Envoy textile, Fortune Shoes, and Quasem Industries have declared dividends for their shareholders for the fiscal year ended on June 30, 2021.

The dividend payout was declared at board meetings of the publicly traded companies on Monday. 

Envoy textile

Textile sector listed company Envoy textile will pay 5 per cent cash dividend to its investors despite reporting less profit for the year ended June 30, 2021, compared to the previous financial year.  

The company disbursed the same amount of cash dividend in the previous year. According to the company’s source, it reported a 65 per cent decline in its earnings per share (EPS) as the earnings stood Tk 0.56 in the last financial year, against Tk 1.63 of FY20.

An official of Envoy Textile told The Business Post that the company paid higher taxes in the last financial year, compared to that of the previous year.

It will hold an annual general meeting (AGM) on December 27 while the record date was set on November 15.

At the Dhaka bourse, the company’s share price declined slightly and to Tk47 on Monday. 

Fortune Shoes

Another listed company Fortune Shoes announced a10 per cent cash and a 5 per cent stock dividend for its shareholder for FY21, thanks to the good profit it bagged in the year.

According to the company sources, the company will hold AGM on December 9 while the record date was fixed November 4. 

It reported an EPS of Tk 1.59 for the last financial year, which was Tk 0.80 in the previous year.

Fortune Shoes’ Company Secretary Riaz Uddin Bhuiya attributed the higher profit to increased exports.

The company also reduced its operating expenses; as a result, its earning was better than the previous year, according to the official.

For FY20, Fortune Shoes distributed 5 per cent cash and 5 per cent stock dividend. The share price of the company increased 4.44 per cent to Tk 91.8 at the Dhaka bourse on Monday. 

Quasem Industries

Quasem Industries Limited has recommended a 10 per cent stock dividend for its shareholders for the last fiscal year.

AGM of the company is scheduled for November 25 while the record date for the entitlement of the dividend is November 03. 

Its earning per share was Tk1.39 for the last financial year, which was Tk0.67 for the FY20.