The Financial Express

Confidence Cement recommends 15pc cash, 20pc stock dividend

| Updated: October 31, 2017 13:13:15

Confidence Cement recommends 35pc dividend

The board of directors of Confidence Cement Limited has recommended 15 per cent cash and 20 per cent stock dividend for the year ended on June 30, 2017, said an official disclosure on Monday.

The final approval of dividend will come during the Annual General Meeting (AGM) scheduled to be held on December 24 at 11:30am in Chittagong.

The record date for entitlement of dividend is on November 23, 2017.

The company has also reported earnings per share (EPS) of Tk 11.07, net asset value (NAV) per share of Tk 84.01 and net operating cash flow per share (NOCFPS) of Tk 9.35 for the year ended on June 30, 2017 as against Tk. 10.22, Tk. 73.71 and Tk. 7.85 respectively for the same period of the previous year.

In 2016, the company disbursed 35 per cent cash dividend.

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

Each share of company, which was listed on the Dhaka bourse in 1995, closed at 151.30 on Sunday the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 449.94 million and authorised capital is Tk 1.0 billion, while the total number of securities is 44.99 million.

Sponsor-directors own 25.50 per cent stake in the company, while institutional investors own 24.08 per cent, foreign 0.09 per cent and the general public 50.33 per cent as on September 30, 2017, the DSE data shows.

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