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The Financial Express

Meghna Petroleum declares 150pc cash dividend

| Updated: December 27, 2020 12:35:58


Evaly and Fianancial Express Evaly and Fianancial Express
Meghna Petroleum declares 150pc cash dividend

The board of directors of Meghna Petroleum has recommended a 150 per cent cash dividend for the year ended on June 30, 2020.

The final approval will come during the annual general meeting scheduled to be held on March 6 at 11:00 am through Digital Platform.

The record date is January 21, according to an official disclosure on Thursday.

The state-run petroleum company has also reported earnings per share (EPS) of Tk 28.45, net asset value (NAV) per share of Tk 148.21 and net operating cash flow per share (NOCFPS) of negative Tk 27.78 for the year ended on June 30, 2020 as against Tk 35.11, Tk 134.30 and negative Tk. 77.03 respectively for the same period of the previous year.

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 Dhaka Stock Exchange in 2007, closed at Tk 188.30 on Wednesday.

In 2019, the company also disbursed 150 per cent cash dividend.

The company’s paid-up capital is Tk 1.08 billion and authorised capital is Tk 4.0 billion while the total number of securities is 108.21 million.

The government owns 58.57 per cent stake in the company, while the institutional investors own 31.82 per cent, foreign investors 0.40 per cent and the general public 9.11 per cent as on November 30, 2020, the DSE data shows.

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