BD Thai offers 2%, Rahima Food 1% cash dividends

Bangladesh (BD) Thai Aluminum and Rahima Food Corporation declared 2 per cent and 1 per cent cash dividends respectively for the year ended on June 30, 2021.

Both companies decided to distribute the dividends only for general shareholders, not for sponsors’ shareholders, said the companies in filings with the Dhaka Stock Exchange (DSE) on Sunday.

BD Thai will hold the annual general meeting (AGM) on December 27 and set November 28 as the record date for the entitlement of shares.

Rahima Food’s AGM will be held on December 27 and its record date is December 2.

The companies have no price limit on Sunday following their corporate declarations.

BD Thai’s share price declined 7.58 per cent and Rahima Food’s price increased 2.56 per cent.

The company reported earnings per share (EPS) of Tk 1.25 for the year ended on June 30, 2021, a jump of 495 per cent from Tk 0.21 seen in the same period a year earlier. 

Though the company made a huge profit but decided to give less dividend compared to the previous year as it went for new investment. 

It distributed 3 per cent cash and 3 per cent stock dividends for the fiscal 2019-20.

The reason for the low dividend, it explained, is that the expansion and development works will require a substantial amount of funds.

The development plans included new extrusion machine procurement, installation and commissioning for higher productivity and better quality.

Rhima Food has reported earnings per share (EPS) of Tk 0.07 for the last financial year, down from Tk 1.20 in the same period a year ago.

Its Net asset value per share stood at Tk 9.29 and Net Operating cash flow per share negative Tk 0.40 as against Tk 9.57 and Tk 0.62 respectively during the period.