Dhaka, Bangladesh (BBN)– The board of directors of Square Textile Limited has declared 25 percent cash and 10 per cent stock dividend for the year ended on December 31, 2015, officials said.
The approval came at a meeting of board of directors held on Monday in the capital city Dhaka.
The final approval will come during the annual general meeting (AGM) scheduled to be held on September 8, 2016.
The company has decided, according to the Companies Act, 1994, to extend the Financial Year (FY) 2015 of the company by an additional period of 6 months comprising to 18 months period ending on 30th June, 2016 instead of 31st December, 2015 in order to comply with the uniform income year from July to June as per provision of Section 9 of the Finance Act, 2015.
The record date for entitlement of dividends is on August 23, 2016.
The company has also reported earnings per share (EPS) of BDT 4.57 for the year ended on December 31, 2015, as against BDT 3.66 for the year ended on December 31, 2014.
Each share of the company traded between BDT 70 and BDT 70.80, before closing at BDT 70.40 on Monday, losing 0.14 per cent over the previous day.
There will be no price limit on the trading of the shares of the company on Tuesday following its corporate declaration.
In 2014, the company disbursed 20 percent stock and 10 percent stock dividend for the year ended on December 31, 2014.
The textile company was listed on the Bangladesh stock market in 2002. The textile company belongs to the “A” category.
The sponsor-directors own 62.21 per cent stake in the Square Textile, while the institutional investors own 17.58 per cent, foreign 6.71 per cent and the general public own 13.50 per cent as of May 31, 2016.
The company’s paid-up capital is BDT 1,626.49 million and authorised capital is BDT 3,000 million, while the total number of securities is 162,648,527, the DSE data showed.