Runner Automobiles declares 10pc cash dividend

The board of directors of Runner Automobiles Ltd has recommended a 10 per cent cash dividend for the financial year ended on June 30, 2020.

The final approval will come at the annual general meeting (AGM) scheduled to be held at 11:30am on December 21 through a digital platform. The record date is November 15.

The information was confirmed on the website of the Dhaka Stock Exchange (DSE) Thursday.

The company has reported consolidated earnings per share (EPS) of 1.97 taka, consolidated net asset value (NAV) per share of 63.39 taka and consolidated net operating cash flow per share (NOCFPS) of 20.34 taka for the year ended on June 30, 2020 as against 4.41 taka, 65.49 taka and 0.59 taka respectively for the same period of the previous year.

The company has also informed that the overall automobile industry has been impacted tremendously in the second half of the financial year due to new road transport act, pandemic situation for Covid-19 and other macroeconomic issues. Those has been reflected in the company’s earnings as well as in the operating cash flows.

Besides, the company has extended its credit facilities for the retail customers in motorcycle and three-wheeler business segments which increased the overall working capital cycle.

There will be no price limit on the trading of the shares of the company today following its corporate declaration. However, as per a Bangladesh Securities and Exchange Commission (BSEC) order issued on March 19, 2020, the floor price shall be applicable accordingly.