BSCCL declares highest ever cash dividend

Bangladesh Submarine Cable Company Limited (BSCCL) has declared a 46 per cent cash dividend for its shareholders for the financial year 2021-22.

This is the highest dividend to be disbursed by the state-owned listed company.

It disbursed a 37 per cent cash dividend in the previous year.

As per the last financial statement, the company’s earnings per share (EPS) stood at Tk 15.16 for FY22, which was Tk 11.57 for FY21.

The company is scheduled to hold a virtual annual general meeting (AGM) on December 3 while the record date is fixed as November 7.

According to its financial statement, the BSCCL’s net profit rose 31 per cent to Tk 250 crore for FY 22 versus Tk 191 crore in FY21.

The market capitalisation of the company is Tk 3,644 crore while its paid-up capital is around Tk 165 crore.

The ‘A’ category company was listed with the capital market in 2012.

In the company, the government holds a 73.84 per cent stake, while institutes own 15.18 per cent, foreign 2.74 per cent and the public 8.23 per cent.