IFAD Autos, BSCCL recommend dividend

Last updated: September 30, 2018

Dhaka, Bangladesh (BBN)- The board of directors of two more listed companies have recommended for the year ended on June 30, 2018, according to separate official disclosures on Sunday.

The companies are IFAD Autos and Bangladesh Submarine Cable Company (BSCCL).

IFAD Autos: The board of directors of IFAD Autos has recommended 22 percent cash dividend for shareholders (excluding sponsors/directors) and 10 percent stock dividend for all shareholders for the year ended on June 30, 2018.

The sponsors shareholders hold 14,15,16,665 shares out of total 22,54,46,000 shares of the company and general shareholders will get cash dividend of more than BDT 184.64 million.

The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on December 19. Time and venue will be notified later on.

The record date is on October 18, 2018.

The company has also reported earnings per share (EPS) of BDT 7.01, net asset value (NAV) per share of BDT 38.25 and net operating cash flow per share (NOCFPS) minus BDT 10.98 for the year ended on June 30, 2018 as against BDT 4.81, BDT 38.61 and minus BDT 7.99 respectively for the same period of the previous year.

The engineering sector company disbursed 21 percent cash and 5.0 percent stock dividend for the year ended on June 30, 2017.

Each share of the company, which was listed on the Dhaka Stock Exchange (DSE) in 2015, closed at BDT 131 on Thursday last.

The company’s paid-up capital is BDT 2.25 billion and authorised capital is BDT 3.0 billion, while the total number of securities is 225.44 million.

The sponsor-directors own 62.77 percent stake in the company, institutional investors 17.26 percent, foreign 5.0 percent and the general public 14.97 percent as on August 31, 2018, the DSE data shows.

BSCCL: The board of directors of Bangladesh Submarine Cable Company (BSCCL) has recommended 5.0 percent cash dividend for the year ended on June 30, 2018.

The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on November 08 at 11:00am at the Trust Milonayaton in Dhaka.

The record date is on October 18, 2018.

The state-run company has also reported earnings per share (EPS) of BDT 0.44, net asset value (NAV) per share of BDT 35.68 and net operating cash flow per share (NOCFPS) BDT 4.07 for the year ended on June 30, 2018 as against BDT 1.93, BDT 36.44 and BDT 1.20 respectively for the same period of the previous year.

The telecom sector company disbursed 12 percent cash dividend for the year ended on June 30, 2017.

Each share of the company, which was listed on the Dhaka Stock Exchange (DSE) in 2012, closed at BDT 85.40 on Thursday last.

The company’s paid-up capital is BDT 1.64 billion and authorised capital is BDT 10 billion, while the total number of securities is 164.90 million.

The government own 73.84 percent stake in the company, institutional investors 14.19 percent, foreign 2.0 percent and the general public 9.97 percent as on August 30, 2018, the DSE data shows.

There will be no price limit on the trading of the shares of these companies today following their corporate declarations.

BBN/SSR/SR

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