Dhaka, Bangladesh (BBN) – RN Spinning Finance has recommended 20 per cent stock dividend for the 18 months period from January 01, 2015 to June 30, 2016, said an official disclosure on Thursday.
The board of directors of final approval of this dividend will come during the annual general meeting (AGM) scheduled to be held on March 30.
The 9th AGM will start at 10:30am 10th, 11th and 12th AGM will start following 15 minutes interval among each other respectively, at Shalban Multipurpose Hall in Comilla.
The record date for entitlement of dividend is on March 15, 2017.
Following the rights offer complexity, the company has failed to hold AGM for the last three years.
The board of directors has also recommended no dividend based on the audited financial statements of the company for the years ended on December 31, 2014, 2013 and 2012.
There will be no price limit on the trading of the shares of the company today following its corporate declaration.
Each share price of company, which was listed on the Dhaka bourse in 2010, closed at BDT 29.70 on Wednesday.
The company’s paid-up capital is BDT 5.0 billion and authorised capital is BDT 2.48 billion, while the total number of securities is 247,818,709.
The sponsor-directors own 36.70 per cent stake in RN Spinning, while institutional investors 12.88 per cent and the general public 50.42 per cent as on January 31, 2017, the DSE data shows.
BBN/SK/AD