The board of directors of Regent Textile Mills Limited has recommended 10 per cent cash dividend for the general shareholders only (excluding Sponsors/Directors) for the year ended on June 30, 2017, said an official disclosure on Wednesday.
The Sponsors/Directors hold 6,29,99,996 shares out of total 11,55,00,000 shares of the Company and general shareholders will get cash dividend of Tk. 5,25,00,004.
The Board of Directors has also decided to pass Special Resolution to extend the IPO fund utilisation time for BMRE up to October 2018 and New RMG project up to December 2018 from the existing time schedule and may acquiring a fully compliant RMG factory running with profitability i.e. mode change of RMG project and un-utilised portion of IPO expenses to be used in capital machineries procurement purpose, subject to general shareholders’ approval in the EGM.
The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on December 21.
The record date for entitlement of dividend is on November 23 2017.
The company has also reported earnings per share (EPS) of Tk 1.21, net asset value (NAV) per share of Tk 30.12 and net operating cash flow per share (NOCFPS) of Tk (2.08) for the year ended on June 30, 2017 which was Tk 1.88 (restated), Tk 31.37 and Tk 2.84 (restated) respectively for the 18 months period from January 01, 2015 to June 30, 2016.
In 2016, the company disbursed 10 per cent cash and 5.0 per cent stock dividend.
There will be no price limit on the trading of the shares of the Company on today (Wednesday) following its corporate declaration.
Each share of company, which was listed on the Dhaka bourse in 2015, closed at 21.30 on Wednesday the Dhaka Stock Exchange (DSE).
The company’s paid-up capital is Tk 1.15 billion and authorised capital is Tk 1.50 billion, while the total number of securities is 115.50 million.
Sponsor-directors own 54.55 per cent stake in the company, while institutional investors own 3.20 per cent and the general public 42.25 per cent as on September 30, 2017, the DSE data shows.