Home ›› 14 Dec 2021 ›› Stock
Aramit Cement Limited has declared a 5 per cent interim cash dividend for its general shareholders, other than the sponsor shareholders, for the financial year 2021-22.
Snapping a four-year losing streak, the publicly traded cement manufacturer returned to profit in the previous financial year but declared no dividend.
The record date for entitlement of the latest dividend has been set as January 3, it said in a news filing with the Dhaka Stock Exchange on Monday.
Aramit Cement had bagged Tk 2.83 lakh in profits in FY16 and distributed a 12 per cent cash dividend for the year. It had been grappling with continuous losses for the next four years.
In FY21, the company made a profit of Tk 2.03 lakh but didn’t declare any dividend.
Aramit Cement has a market capitalization of Tk 117 crore while its paid-up capital is Tk 33.88 crore. The loss making company has Tk 62.55 crore negative in reserves.
It got listed with stock market in 1998 and now carries out share trading under ‘Z’ category.
The Cement Company is a sister concern of Aramit Group and its factory situated at Kalurghat Heavy Industrial Estate in Chattogram.
Aramit was incorporated in August, 1995 and started production in November, 1999. Its product brand name is registered as Camel Brand cement.
The company has two units with a consolidated production capacity of 5.10 lakh metric tons per year.
The company was among the first few exporters to enter Myanmar. It is also exporting cement to Tirpura and Meghalaya of India.
Its share price increased 18.50 per cent to Tk 41 at the Dhaka bourse on Monday. The price moved between Tk 14.80 to Tk 64 throughout the last one year.
