Dhaka, Bangladesh (BBN) – The board of directors of Berger Paints Bangladesh has recommended 425 percent final cash dividend for the 15 months period from January 01 last year to March 31 this year.
However, the total cash dividend will be 600 per cent for the 15 months period as the company already disbursed 175 percent interim cash divined.
The board of directors has further recommended enhancing the maximum number of directors to fifteen from existing ten through amendment of Article 109 of the Articles of Association of the Company through “Special Resolution”.
The annual general meeting (AGM) will be held on July 16 at 10am at International Convention City Bashundhara in Dhaka, the capital of Bangladesh.
The record date for entitlement of dividend is on June 14.
There will be no price limit on the trading of the shares of the Company today (Thursday) following its corporate declaration.
The mutational company’s share price closed at BDT 2100 each on Wednesday at Dhaka Stock Exchange (DSE).
The company has also reported consolidated earnings per share (EPS) of BDT 109 for the for the 15 months period from January 01, 2016 to March 31, 2017 as against BDT 77.23 in the same period a year ago.
Consolidated net asset value (NAV) per share stood at BDT 249.10 for the for the 15 months period from January 01, 2016 to March 31, 2017 as against BDT 186.42 a year ago.
And consolidated net operating cash flow per share (NOCFPS) stood at BDT 116.37 for the year for the 15 months period from January 01, 2016 to March 31, 2017 as against BDT 117.98 for the same period of the previous year.
In 2015, the company also disbursed 370 percent cash dividend.
The company’s paid-up capital is BDT 231.88 million and authorised capital is BDT 400 million, while the total number of securities is 23.18 million.
Sponsor-directors own 95 percent stake in the company, while institutional investors own 3.01 percent, foreign investors 1.52 percent and the general public only 0.47 percent as on April 30, 2017, the DSE data shows.
Berger Paints is one of the oldest names in the paint industry, yet, it is one of the most technologically advanced companies in the country. It is constantly striving for innovating superior quality products and services.
With more than 250 years of rich heritage, Berger manufactures world class paints for all kinds of substrates and also provides unparallel services.
Berger’s inception was laid out in 1760 by a German national named Louis Berger, who started dye and pigment making business in England.
Berger Paints started ‘painting’ Bangladesh since independence. Over the past few decades, Berger has evolved and transformed itself in becoming the leading paint solution provider in the country with a diversified product range that caters to all your painting needs.
BBN/SS/ANS