Bashundhara Paper Mills Ltd (BPML), a publicly traded company, has recommended a 10 per cent cash dividend to its shareholders for the year ending June 2022.
The sister concern of the Bashundhara Group’s dividend payout was recommended at the meeting of the company’s board of directors on Friday.
The listed firm’s earnings per share (EPS) stood at Tk 2.92 for FY22 against Tk 2.37 for the previous fiscal year.
ALSO READ — Bashundhara's ABG ordered to shake off one-person company
The recommended dividend is expected to get the investors’ approval at the company’s annual general meeting (AGM) slated to be held on December 27.
The company reported a net asset value (NAV) per share of Tk 74.31 for the year ended June 30, 2022, as against Tk 45.81 for the same period of the previous year.
Bashundhara Paper Mills made its debut on the Dhaka Stock Exchange on July 2, 2018. During Thursday’s trade, its closing price was Tk 83.
The company paid a 12 per cent cash dividend for FY21.
Its paid-up capital is Tk 173 crore and authorised capital is Tk 500 crore while the total number of securities is 173.79 million.
BPML’s sponsor-director owns a 70.86 per cent stake in the company, while institutional investors own 7 per cent, and the public 22.14 per cent, according to the Dhaka Stock Exchange data.
Bashundhara Paper Mills is one of the major concerns of the Bashundhara Group.
The conglomerate was incorporated in Bangladesh in 1993 as a private limited company. Subsequently, it was converted into a public limited company, and lastly as a publicly listed company.
After starting commercial operation as an import-substitute local paper manufacturing company, the other two sister concerns of the Bashundhara Group —Bashundhara Newsprint & Duplex Board Industries Limited and Bashundhara Tissue Industries Limited — were merged with the BPML on October 10, 2009.
Bashundhara Paper Mills now has three production units in Narayanganj and Munshiganj districts.
