Dhaka, Bangladesh (BBN) – The board of directors of Berger Paints Bangladesh Ltd has recommended 200 percent cash and 100 percent stock dividend for the year ended on March 31, 2018, said an official disclosure on Tuesday.
The board has also recommended increasing authorized capital of the company from BDT 400 million to BDT 1.0 billion by amending Clause V of the Memorandum of Association and Clause 5 of the articles of association, subject to the approval of the shareholders in the extraordinary general meeting (EGM).
The annual general meeting (AGM) and EGM will be held on July 17 in Dhakla. The record date for entitlement of dividend is June 11.
The multinational company has also reported consolidated earnings per share (EPS) of BDT 77.10, consolidated net asset value (NAV) per share of BDT 284.11 and consolidated net operating cash flow per share (NOCFPS) of BDT 63.33 for the year ended on March 31, 2018 as against BDT 82.58, BDT 249.51 and BDT 87.69 respectively for the same period of the previous year.
In 2017, the company declared a total of 600 percent cash 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 2006, closed at BDT 2,049.90 on Monday at the Dhaka Stock Exchange (DSE).
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.
The sponsor-directors own 95 percent stake in the company, while the institutional investors own 2.54 percent, foreign 2.10 percent and the general public only 0.36 percent as on April 30, 2018, the DSE data shows.