Dhaka, Bangladesh (BBN)- The board of directors of Western Marine Shipyard has recommended 3.0 percent cash and 12 percent stock dividend for the year ended on June 30, 2017, said an official disclosure on Sunday.
The board has also decided to raise the paid-up capital of the company by way of offering rights shares.
The board has decided to issue rights shares @ 1.25R : 1 (1.25 rights shares for 1 existing share at BDT 20 each including BDT 10 premium) for expansion of the shipyard capacity, BMRE and to pay off debts of the company, subject to the approval of shareholders in the 6th EGM, BSEC and other regulatory authorities.
The board has also decided to increase the authorised share capital of the company from BDT 3.0 billion to BDT 6.0 billion, subject to the approval of the shareholders in the 6th EGM.
The extraordinary general meeting (EGM) and annual general meeting (AGM) will be held on December 30 at 11:00am and 11:30am respectively in Chittagong.
The record date for entitlement of dividend is on December 5.
The company has also reported earnings per share (EPS) of BDT 2.14, net asset value per share (NAV) BDT 34.24 and net operating cash flow per share (NOCFPS) of BDT 2.80 for the year ended on June 30, 2017 as against BDT 2.01 (restated), BDT 32.10 (restated) and BDT 0.93 respectively for the same period of the previous year.
Each share of the company, which was listed on the Dhaka bourse in 2014, closed at BDT 41 on Thursday last at DSE.
BBN/SSR/AD