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Western Marine Shipyard will pay 1 per cent cash dividend to its shareholders, instead of earlier declared no dividend, for the year ended on June 30, 2021.
The directors and shareholders of the listed ship builder approved the dividend payout at the 21st annual general meeting recently, it said in a filing with the Dhaka Stock Exchange on Sunday.
On November 11, the company declared to pay no dividend for FY21 as it posted a loss of Tk 94 lakh in the year. However, the company was in profit in the previous four financial years.
Its net asset value (NAV) per share fell from Tk 24.06 to Tk 23.4 in the last financial year.
According to the latest annual report, the company’s due loan stood at Tk 1469.67 crore, which is 6.25 times higher than its paid-up capital Tk 235 crore.
Western Marine Shipyard launched in 2000 and has established itself as a major player in the sector by building different categories of ships and exporting the item to various European countries.
Investors are less interested in the company as it is heavily indebted. As a result its share traded under face value throughout the last one year. On Sunday its share price increased 6.86 per cent to Tk 10.90 on Dhaka bourse.
ACI Formulations approves 35% dividend
The shareholders of ACI Formulations Limited have approved a 35 per cent dividend – 30 per cent cash and 5 per cent stock – for the year ending on June 30, 2021.
The approval came at the 25th annual general meeting (AGM) of the listed company, said a press release on Sunday.
Its board of directors had recommended the dividend payout on October 31 and said that the amount will be disbursed from the company’s accumulated profit.
It also clarified that there is no scope for the post dividend retained earnings to be negative or a debit balance.
ACI formulations posted significant rise in its earnings for FY21 as its earnings per share increased from Tk 2.06 to Tk 4.74 in the year.
Its consolidated net asset value per share stood at Tk 66.77 and net operating cash flow per share at Tk 13.43 in FY21, against Tk 53.38 and Tk 14.52 respectively of FY20.
ACI Formulations Chairman M Anis Ud Dowla presided over the AGM on Sunday.
The audited financial statements together with reports of the directors and auditors of were approved by the shareowners in the meeting.
RFL approves 23% dividend
The shareholders of Rangpur Foundry Ltd (RFL) has approved 23 per cent dividend for shareholders for the year 2020-2021.
The approval came at the 41th annual general meeting (AGM) of the company held virtually on Sunday, said a press release.
At the AGM, the shhareholders’ thanked the company management for achievements over the years and made valuable suggestions for improvement in running the business in the company upcoming days.
They reiterated their profound confidence in the management and operations of the company.
