Dhaka, Bangladesh (BBN) – Bangladesh’s IFAD Autos has recommended 21 percent cash dividend (other than sponsors/directors) and 5.0 percent stock dividend for all shareholders for the year ended on June 30 in 2017, said an official disclosure on Thursday.
The automobile dealers has also informed that the sponsors/directors of the company hold total 9,75,97,700 shares out of total 15,54,80,000 shares of the company and general shareholders will get total cash dividend of BDT 12,15,52,830.
The board of directors of the company will give the final approval of the dividend during the annual general meeting (AGM) scheduled to be held on December 10 at 3:30pm at Samarai Convention Centre at Panthapath in Dhaka.
The record date for entitlement of dividend is on November 12 in 2017.
The company has also reported earnings per share (EPS) of BDT 6.74, net asset value per share (NAV) per share of BDT 38.61 and net operating cash flow per share (NOCFPS) of BDT (7.99) for the year ended on June 30 in 2017 as against BDT 3.83 (restated), BDT 33.57 (restated) and BDT (11.73) (restated) respectively for the same period of the previous year.
In 2016, the company disbursed 13 percent cash and 4.0 percent stock dividend for the year ended on December 31, 2016. In 2015, the company disbursed 7.0 percent cash and 30 percent stock dividend.
There will be no price limit on the trading of the shares of the company today following its corporate declaration.
Each share of the company, which was listed on the Dhaka bourse in 2015, hovered between BDT 156.50 and BDT 162.40, before closing at BDT 161 each on Tuesday, advancing 2.94 percent over the previous session.
The company’s share trading was suspended on Wednesday due to record date for entitlement of rights shares of IFAD Autos. The company’s rights shares subscription will take place between November 19 and December 14.
The company’s paid-up capital is BDT 1.55 billion and authorised capital is BDT 3.0 billion while total number of securities is 155.48 million.
Sponsor-directors own 62.77 percent stake in the company, while institutional investors own 20.60 percent, foreign investors 1.47 percent and the general public own 15.16 percent as on September 30, 2017, the DSE data shows.