The Financial Express

Berger Paints recommends 200pc cash, 100pc stock dividend

| Updated: May 24, 2018 11:07:20

Evaly and Fianancial Express Evaly and Fianancial Express
Berger Paints recommends 300pc dividend

The board of directors of Berger Paints Bangladesh Limited has recommended 200 per cent cash and 100 per cent stock dividend for the year ended on March 31, 2018, said an official disclosure on Tuesday.

The board has also recommended increasing authorised capital of the company from Tk 400 million to Tk 1.0 billion by amending Clause V of the Memorandum of Association and Clause 5 of the articles of association, subject to the approval of the shareholders in the extraordinary general meeting (EGM).

The annual general meeting (AGM) and the EGM will be held on July 17 in Dhaka. The record date for entitlement of dividend is June 11.

The multinational company has also reported consolidated earnings per share (EPS) of Tk 77.10, consolidated net asset value (NAV) per share of Tk 284.11 and consolidated net operating cash flow per share (NOCFPS) of Tk 63.33 for the year ended on March 31, 2018 as against Tk 82.58, Tk 249.51 and Tk 87.69 respectively for the same period of the previous year.

In 2017, the company declared a total of 600 per cent cash dividend.

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

Each share of the company, which was listed on the Dhaka bourse in 2006, closed at Tk 2049.90 on Monday at the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 231.88 million and authorised capital is Tk 400 million while the total number of securities is 23.18 million.

The sponsor-directors own 95 per cent stake in the company, while the institutional investors own 2.54 per cent, foreign 2.10 per cent and the general public only 0.36 per cent as on April 30, 2018, the DSE data shows.

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