Dhaka, Bangladesh (BBN) – Bangladesh’s Regent Textile Mills has recommended 10 percent cash dividend for the general shareholders only for the year ended on June 30 in 2017, said an official disclosure on Wednesday.
The sponsors/directors hold 6,29,99,996 shares out of total 11,55,00,000 shares of the company and general shareholders will get cash dividend of BDT 5,25,00,004.
The board of directors has also decided to pass special resolution to extend the IPO fund utilisation time for BMRE up to October 2018 and New RMG project up to December 2018 from the existing time schedule.
The company may acquiring a fully compliant RMG factory running with profitability i.e. mode change of RMG project and un-utilized portion of IPO expenses to be used in capital machineries procurement purpose, subject to general shareholders’ approval in the EGM.
The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on December 21.
The record date for entitlement of dividend is on November 23 2017.
The company has also reported earnings per share (EPS) of BDT 1.21, net asset value per share (NAV) per share of BDT 30.12 and net operating cash flow per share (NOCFPS) of BDT (2.08) for the year ended on June 30, 2017 which was BDT 1.88 (restated), BDT 31.37 and BDT 2.84 (restated) respectively for the 18 months period from January 01, 2015 to June 30, 2016.
In 2016, the company disbursed 10 percent cash and 5.0 percent stock dividend.
There will be no price limit on the trading of the shares of the company on today following its corporate declaration.
Each share of company, which was listed on the Dhaka bourse in 2015, closed at 21.30 on Tuesday the Dhaka Stock Exchange (DSE).
The company’s paid-up capital is BDT 1.15 billion and authorised capital is BDT 1.50 billion, while the total number of securities is 115.50 million.
Sponsor-directors own 54.55 percent stake in the company, while institutional investors own 3.20 percent and the general public 42.25 percent as on September 30, 2017, the DSE data shows.