Dhaka, Bangladesh (BBN) – The board of directors of Argon Denim has recommended 10 percent cash and 15 percent stock dividend for the 18 months period from January 01, 2015 to June 30, 2016, said an official disclosure on Tuesday.
The final approval will come during the annual general meeting (AGM) scheduled to be held on November 24. Time and venue to be notified later, said the disclosure.
The record date for entitlement of dividend is on November 03, 2016.
The company has also reported earnings per share (EPS) of BDT 4.39, net asset value (NAV) per share of BDT 27.10 and net operating cash flow per share (NOCFPS) of BDT 5.69 for the 18 months period from January 01, 2015 to June 30, 2016 as against BDT 4.06, BDT 27.00 and BDT 2.43 respectively for the period from July 01, 2013 to December 31, 2014.
There will be no price limit on the trading of the shares of the company today following its corporate declaration.
The textile category company’s share price hovered between BDT 25 and BDT 26.90, before closing at BDT 26.80 on Monday.
Argon Denim, which was listed on the stock exchanges in 2013, disbursed 20 percent stock dividend for the year ended on December 31, 2014.
The company’s paid-up capital is BDT 993.60 million and authorised capital is BDT 1,000 million while the total number of securities is 99,360,000. The total market cap of the company stood at BDT 2,466.13 million.
The sponsor-directors own 47.62 percent stake in the Argon Denim, while the institutional investors 23.79 percent, foreign 1.65 percent and the general public 26.94 percent as on August 31, 2016, the DSE data showed.
BBN/AD/SR