Dhaka, Bangladesh (BBN) – The board of directors of BSRM Steels has recommended 30 per cent cash dividend for the year ended on December 31, said an official disclosure on Thursday.
The company has also decided to hold an EGM on the issue: “BSRM Steels and BSRM Iron & Steel Co Ltd will be merged under the provision of section 228 & 229 of the Companies Act 1994 by transferring all assets and liabilities of BSRM Iron & Steel Co Ltd to BSRM Steels subject to the consent of shareholders at EGM and approval from the High Court of Bangladesh.
The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on March 30 at 9:30am.
Meanwhile, the extraordinary general meeting (EGM) will be held on 1:15am at the Institution of Engineers Bangladesh in Chittagong Center.
The record date for AGM & EGM is on March 3.
The company has also reported consolidated net profit of BDT 2,096.85 million, consolidated earnings per share (EPS) of BDT 6.14, consolidated net asset value (NAV) per share of BDT 30.03 and consolidated net operating cash flow per share (NOCFPS) of BDT 19.78 for the year ended on December 31, 2015 as against BDT 1,239.22 million, BDT 3.63, BDT 25.34 and BDT (8.16) respectively for the year ended on December 31, 2014.
There will be no price limit on the trading of the shares of the company Thursday following its corporate declaration.