Dhaka, Bangladesh (BBN) – The board of directors of Delta Spinners Limited has recommended 10 percent stock dividend for the year ended on June 30, 2016, said an official disclosure on Tuesday.

The board has also decided to increase the authorized capital of the company to BDT 1.75 billion from existing Tk 1.50 billion subject to the approval of shareholders in the extraordinary general meeting (EGM) and regulatory authorities.

The company has also informed that in compliance to the notification of Bangladesh Securities and Exchange (BSEC), there are a total 28 sponsors holding with a total number of 2,55,17,170 shares of the company out of which 58,54,000 shares are mortgaged with Bangladesh Development Bank against long term loan provided by the bank to the company.

The EGM and annual general meeting will be held on December 20 at 11:30am and 12:00 noon the Registered Office situated at factory premises of the company at Mymensingh.

The record date for EGM and AGM are on November 21.

The company has also reported consolidated earning per share (EPS) of BDT 0.34, consolidated net operating cash flow per share (NAV) per share (including revaluation) of BDT 15.50 and consolidated net operating cash flow per share (NOCFPS) of BDT 2.65 for the year ended on June 30, 2016 as against BDT 0.52 (restated), BDT 15.93 (restated) and BDT 1.23 respectively for the same period of the previous year.

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 1995, closed at BDT 8.10 on Monday.

BBN/AD/SR