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The Financial Express

Regent Textile declares 2.0pc dividend

The textile maker incurs losses Tk 0.31 per share


| Updated: November 23, 2020 11:11:26


Lankabangla and Fianancial Express Lankabangla and Fianancial Express
Regent Textile declares 2.0pc dividend

The Regent Textile Mills has recommended 1.0 per cent cash for general shareholders excluding sponsors/directors and 1.0 per cent stock dividend for all shareholders for the year ended on June 30, 2020.

The sponsors/directors hold 69,457,486 shares out of total 127,338,750 shares and the cash dividend to be payable to the general shareholders of Tk 5,788,126.40, said an official disclosure on Thursday..

The annual general meeting (AGM) will be held on December 30 at 3:00 pm through a digital platform. The record date is on December 9.

The company has also reported earnings per share (EPS) of Tk 0.31 in the negative, net asset value (NAV) per share of Tk 28.46 and net operating cash flow per share (NOCFPS) of Tk 0.62 for the year ended on June 30, 2020, as against Tk 0.93 (restated), Tk. 30.21 and Tk. 0.97 (restated) respectively for the same period of the previous year.

There will be no price limit on the trading of the shares of the company today following its corporate declaration; however, as per the BSEC order dated March 19, 2020, the floor price shall be applicable accordingly.

Each share of the company, which was listed on the Dhaka Stock Exchange in 2015, closed at Tk 8.70 on Wednesday, far below from its offer price of Tk 25 each.

Its share traded between Tk 6.50 and Tk 12.30 in the last one year.

The Regent Textile raised a fund worth Tk 1.25 billion through IPO in 2015 for business expansion. The securities regulator, Bangladesh Securities and Exchange Commission, approved the company’s initial offer price at Tk 25 a share, including the premium of Tk 15.

In 2019, the company disbursed 5.0 per cent stock dividend.

The company’s paid-up capital is Tk 1.27 billion and authorised capital is Tk 1.50 billion while the total number of securities is 127.33 million.

The sponsor-directors own 54.55 per cent stake in the company, while the institutional investors own 5.78 per cent and the general public 39.67 per cent as on October 31, 2020, the DSE data shows.

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