Home ›› 10 Nov 2020 ›› World Biz
The board of directors of ACI Ltd has recommended 80 per cent cash and 10 per cent stock dividend for the year ended on June 30, 2020.
The Dhaka Stock Exchange (DSE) confirmed the information on its website Sunday.
The final approval will come at the annual general meeting (AGM) scheduled at 11:30am on December 24 through a digital platform. The record date is December 1.
The company has reported consolidated earnings per share (EPS) of 18.45 taka, consolidated net asset value (NAV) per share of 137.67 taka and consolidated net operating cash flow per share (NOCFPS) of 82.79 taka for the year ended on June 30, 2020, as against 13.51 taka, 166.95 taka and 25.67 taka respectively for the same period of the previous year.
The company also made disclosures to the recommendation of dividend as -- (i) dividend has been recommended out of accumulated profit; (ii) dividend has not been recommended 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 and (iii) Bonus Shares has been recommended for utilizing the retained earnings of the company as Capital for ongoing operations, i.e. working capital.
There will be no price limit on the trading of the shares of the company today for 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.
The company has also revealed un-audited financial results for the first quarter (July-September 2020).
Consolidated earnings per share (EPS) was 1.69 taka for July-September 2020 as against 5.21 taka for July-September 2019; consolidated net operating cash flow per share (NOCFPS) was 30.17 taka for July-September 2020 as against 7.24 taka for July-September 2019. Consolidated net asset value (NAV) per share was 139.84 taka as on September 30, 2020, and 137.67 taka as on June 30, 2020.
The company has stated that the consolidated net operating cash flows (NOCF) for the 1st quarter was negative 1,731 million taka with a negative margin of 9.5 per cent compared to negative 2.6 per cent of SQLY mainly due to high consumption of working capital for inventory build-up to cater the further demand.
