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Bangladesh Steel Re-Rolling Mills Limited (BSRM) has recommended a final 50 per cent cash dividend, including a 10 per cent interim cash dividend, for the year ended on June 30, 2021.
This is the highest ever cash dividend declaration by the company as it raked in crores in additional profits amid the Covid-19 pandemic.
The board of directors of the country’s steel maker recommended the dividend at a meeting on Saturday.
The annual general meeting (AGM) is scheduled for December 23 for the investors’ approval of the recommended dividend. The record date for the entitlement of the dividend is November 18.
The company reported earnings per share (EPS) of Tk 18.96 for the year ended on June 30, 2021, a significant increase of Tk 3.90 in the same period a year earlier.
Its net asset value (NAV) per share stood at Tk 127.56 for the year ended on June 30, 2021.
There will be no price limit on the trading of the shares of the company on Sunday following its corporate declaration.
Each share of the company, which was listed on the Dhaka Stock Exchange (DSE) in 2015, closed at Tk 113.10 on Thursday.
The company’s paid-up capital is Tk 298 crore and authorised capital Tk 500 crore while the total number of securities is 29.85 crore.
Of the company’s total stake, the sponsor-directors own 46.353 per cent, institutional investors 14.25 per cent, foreign investors 17.49 per cent and the general public 21.91 per cent as of September 30, 2021, according to the DSE.
