Dhaka, Bangladesh (BBN) - The board of directors of Evince Textiles has recommended 10 percent cash and 20 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.
The record date for entitlement of dividend is on November 03, 2016.
The company has reported earnings per share (EPS) of BDT 2.25, net asset value (NAV) per share of BDT 17.13 and net operating cash flow per share (NOCFPS) of BDT 2.58 for the 18 months period from Jan’15 – June’16 as against BDT 2.29, BDT 15.90 and BDT 7.32 respectively for the period from Jan’14 – June’15.
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 18 and BDT 20.40, before closing at BDT 19.80 on Monday.
The Evince Textiles made its share trading debut on July 17 this year under “N” category.
Evince Textiles, which raised BDT 170 million through initial public offering (IPO) under fixed price method, floated 17 million ordinary shares at an offer price of BDT 10 each.
The company’s paid-up capital is BDT 1,200 million and authorised capital is BDT 1,500 million while the total number of securities is 120,000,000, the DSE data showed.
The total market cap of the company stood at BDT 2,244 million as on Monday.
The sponsor-directors own 36.67 percent stake in the Evince Textiles, while the institutional investors 20.05 percent and the general public 43.28 percent as on August 31, 2016, the DSE data showed.
Set up in 2003, Evince Textiles currently produces over a million yards of cotton shirting fabrics a month, according to the company’s website.
Evince Textiles is the second listed company of Evince Group. In 2013, the Evince Group’s Argon Denim was listed with bourses.
BBN/AD/SR