Dhaka, Bangladesh (BBN) – The board of directors of Matin Spinning Mills has recommended 23 percent cash dividend for the year ended on June 30, 2016, said an official disclosure on Thursday.
The final approval will come during the annual general meeting (AGM) scheduled to be held on December 20 at 11:00am at Factory Premises of Matin Spinning at Kashimpur in Gazipur.
The record date for entitlement of dividend is on November 30.
The company has also reported earnings per share (EPS) of BDT 3.02, net asset value (NAV) per share with revaluation reserve of BDT 41.64 and net operating cash flow per share (NOCFPS) of BDT 1.53 for the year ended on June 30, 2016 as against BDT 4.49, BDT 41.27, BDT 3.66 respectively for the same period of the previous year.
The company has also reported first quarter (Q1) earning report. As per Q1 financial report, EPS was BDT 0.44 for July-September, 2016 as against BDT 1.03 for July-September, 2015. NOCFPS was BDT (2.15) for July-September, 2016 as against BDT 0.19 for July-September, 2015. NAV per share (with Revaluation reserves) was BDT 42.09 as of September 30, 2016 and BDT 41.64 as of June 30, 2016 and NAV per share (without Revaluation reserves) was BDT 31.94 as of September 30, 2016 and BDT 31.50 as of June 30, 2016.
The company disbursed 27 percent cash dividend for the year ended on June 30, 2015.
There will be no price limit on the trading of the shares of the company today following its corporate declaration.
Each share of the textile company, which was listed on the Dhaka bourse in 2014, hovered between BDT 37.40 and BDT 38, before closing at BDT 37.40 on Wednesday.
The company’s paid-up capital is BDT 975 million and authorised capital is BDT 1,500 million, while total number of securities is 97,490,000, according to statistics from the DSE.
The sponsor-directors own 32.72 percent stake in the Matin Spinning, while institutional investors own 53.28 percent, foreign 2.07 percent and the general public 11.93 percent as on October 31, 2016.
BBN/AD/SR