Dhaka, Bangladesh (BBN)-The board of directors of Square Textile has recommended 20 percent cash dividend and 10 percent stock dividend for the year ended on December 31, said an office disclosure on Wednesday.

The final approval of the dividend will come during the AGM scheduled to be held on June 16 at 10:00am at Raowa Convention Hall in Mohakhali of Dhaka.

The record date of the company is May 20.

The company has also reported NAV of BDT 5,158.72 million, EPS of BDT 3.66 and NOCFPS of BDT 5.62 for the year ended on December 31, 2014.

The board of directors has also approved an investment plan of BDT 1138.7 million to increase yarn production capacity to 4,235 tons per annum.

The company expected to complete the project within April, 2016. If the project comes in operation, turnover will be stood at BDT 1190 million per annum and profit contribution will be around 11 percent on turnover.

There will be no price limit on the trading of the shares of the company today following its corporate declaration.

BBN/BB/AS-08Apr15-11:00am (BST)