Berger to invest Tk 914.8m to set up 2nd unit of Jenson & Nicholson
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Berger Paints Bangladesh Ltd is going to invest Tk 914.8 million by Jenson & Nicholson (Bangladesh) Ltd for the establishment of a second unit of the subsidiary at Savar.
The project is expected to be completed in 2022, according to a disclosure posted on the Dhaka Stock Exchange (DSE) website on Sunday.
Jenson & Nicholson (Bangladesh) is the wholly owned subsidiary of Berger Paints Bangladesh. It is the pioneer metal can manufacturing company in Bangladesh.
The company has been involved in the metal container’s business in Bangladesh since 1990. Jenson & Nicholson had set up the factory in Chittagong.
Meanwhile, the Berger Paints also disclosed July-September, 2020 quarter financial statements on Sunday.
As per the disclosure, the consolidated earnings per share (EPS) stood at Tk 14.26 for July-September 2020 as against Tk 9.49 for July-September 2019.
The consolidated EPS was Tk 16.58 in six months for April-September 2020 as against Tk 20.61 for April-September 2019.
The consolidated net operating cash flow per share (NOCFPS) was Tk 15.45 for April-September 2020 as against Tk 29.91 for April-September 2019.
The consolidated net asset value (NAV) per share was Tk 191.28 as on September 30, 2020 and Tk 204.20 as on March 31, 2020.
The Berger Paints, which was listed on the DSE in 2006, is the leading paint maker in Bangladesh.
The multinational company disbursed 295 per cent cash dividend for the year ended on March 31, 2020. In 2019, it paid a 250 per cent cash dividend.
Following the news, each share of the Berger Paints closed at Tk 1,350.90 on Sunday, gaining 2.13 per cent over the previous day.
Its share traded between Tk 1,208 and Tk 1,519.90 in the last one year.
The company's paid-up capital is 463.78 million, authorised capital is Tk 1.0 billion and the total number of securities is more than 46.37 million.
Sponsor-directors own 95 per cent stake in the company while institutional investors own 2.67 per cent, foreign investors 0.95 per cent and the general public 1.38 per cent as on September 30, 2020.