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IT Consultants recommends 12pc dividend

FE Online Report | Published: October 21, 2019 10:50:04 | Updated: October 21, 2019 15:41:43


Picture used for representation purpose - Collected

The board of directors of IT Consultants Ltd has recommended 5.0 per cent cash and 7.0 per cent stock dividend for the year ended on June 30, 2019, said an official disclosure on Monday.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on December 5 in Dhaka.

The record date is November 15, 2019.

The company has also reported EPS of Tk 1.57, NAV per share of Tk 16.27 and NOCFPS of Tk 1.96 for the year ended on June 30, 2019 as against Tk 1.19 (restated), Tk 14.69 (restated) and Tk 0.56 (restated) respectively for the same period of the previous year.

The company has also informed that EPS for the year 2018 has increased due to deferred tax restated. The company also informed that retained amount of bonus shares be used as capital for further investment and bonus shares is declared out of accumulated profit.

In 2018, the company disbursed 10 per cent stock dividend.

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

Each share of the company, which was listed on the Dhaka bourse in 2016, closed at Tk 37.60 each on Sunday.

The company’s paid-up capital is Tk 1.14 billion and authorised capital is Tk 2.0 billion, while the total number of securities is 114.45 million.

The sponsor-directors own 51.09 cent stake in the company while the institutional investors own 25.10 per cent and the general public 23.81 per cent as on September 30, 2019, the DSE data shows.

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