Kohinoor Chemical recommends 50% dividend

Kohinoor Chemicals Company (KCCL) has recommended a 50 per cent dividend - 35 per cent cash and 15 per cent stock – to its shareholders for the last fiscal year, thanks to higher earnings.

The beauty and toiletries product manufacturer also declared to invest Tk 3.33 crore for capital machineries purchase, construction and major overhauling, it said in a news filing with the Dhaka Stock Exchange (DSE).

The listed company will hold an annual general meeting (AGM) on December 12 to get the recommended dividend approved by the shareholders. The record date was fixed for November 21.

For the previous year, the company had disbursed 35 per cent cash and 10 per cent stock dividend to its shareholders.

According to the financial disclosure, the KCCL reported earnings per share (EPS) of Tk 10.54 for the year 2020-21, up by 39 per cent from Tk 7.57 of the previous financial year.

Its net asset value per share stood at Tk 55.58 and net operation cash flow per share at Tk 18.64 in FY21, against Tk 44.85 and Tk 1.30 respectively of the previous year. Kohinoor Chemical holds Tk 1,097 crore in reserves while its paid-up capital is Tk 22 core and surplus reserve Tk 79 crore.