Home ›› 01 Nov 2020 ›› World Biz
The board of directors of Meghna Cement Ltd has recommended 5 per cent cash and 5 per cent stock dividend for the 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 7 through a digital platform. The record date is November 26.
The information was confirmed on the website of the Dhaka Stock Exchange (DSE) on Sunday.
The company has also reported consolidated earnings per share (EPS) of 2.08 taka, net asset value (NAV) per share of 32.73 taka and net operating cash flow per share (NOCFPS) of 4.71 taka for the year ended on June 30, 2020, as against 2.92 taka, 33.19 taka and 39.45 taka respectively for the same period of the previous year.
The company has also informed that—(i) bonus shares have been recommended in view to utilize its retained amount as capital for further business expansion, (ii) the bonus shares are declared out of the accumulated profit of the company and (iii) bonus shares are not declared from the capital reserve or revaluation reserve or any unrealized gain or out of profit earned prior to incorporation of the company or through reducing paid-up capital or through doing anything so that the post-dividend retained earnings become negative or a debit balance.
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 will be applicable accordingly.
