The Financial Express

Fortune Shoes declares 10pc divided

| Updated: November 16, 2020 16:26:33

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The board of directors of Fortune Shoes has recommended 5.0 per cent cash (excluding sponsors & directors) and 5.0 per cent stock dividend for all the shareholders for the year ended on June 30, 2020.

The sponsors & directors hold 45,602,799 shares out of total 147,424,480 shares of the company and the cash dividend to be payable to the general shareholders is Tk 50,910,841.

The annual general meeting (AGM) will be held on December 23 at 11:30am through a digital platform.

The record date is December 8, according to an official disclosure on Thursday.

The company has reported EPS of Tk. 0.80, NAV per share of Tk. 13.63 and NOCFPS of Tk. 0.42 for the year ended on June 30, 2020 as against Tk. 1.48, Tk. 15.28 and Tk. 1.12 respectively for the same period of the previous year.

The company has also informed that bonus shares have been recommended in view to utilise its retained amount as capital for business expansion and the bonus shares are declared out of accumulated profit.

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 DSE in 2016, closed at Tk 16.70 on Wednesday.

In 2019, the company disbursed 2.0 per cent cash and 18 per cent stock dividend.

The company’s paid-up capital is Tk 1.47 billion and authorised capital is Tk 1.50 billion while total number of securities is 147.42 million.

The sponsor-directors own 30.93 per cent stake in the company, while the institutional investors own 16.64 per cent and the general public 52.43 per cent as on October 31, 2020, the DSE data shows.

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