The Financial Express

Silva Pharma recommends 11pc dividend

| Updated: October 20, 2019 11:07:20

Lankabangla and Fianancial Express Lankabangla and Fianancial Express
- Photo collected from internet has been used for representational purpose - Photo collected from internet has been used for representational purpose

The board of directors of Silva Pharmaceuticals Ltd has recommended 6.0 per cent cash dividend for all shareholders excluding the sponsors & directors (excluding ICB) and 5.0 per cent stock dividend for all shareholders for the year ended on June 30, 2019.

The sponsors/directors hold 39.54 million shares out of total 130 million shares of the company and the cash dividend to be payable to the general shareholders is Tk 54.276 million.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on November 25 in Dhaka, said an official disclosure on Thursday.

The record date is November 06, 2019.

The Company has also reported EPS of Tk 1.15, NAV per share of Tk 16.41, and NOCFPS of Tk 1.52 for the year ended on June 30, 2019 as against Tk 0.93, Tk 17.11 and Tk 1.34 respectively for the same period of the previous year.

The company also informed that retained amount of bonus shares is to be used as capital for further business expansion and bonus shares is declared out of accumulated profit.

Each share of the company, which was listed on the Dhaka bourse in 2018, closed at Tk 17.60 each on Wednesday.

The company’s paid-up capital is Tk 1.30 billion and authorised capital is Tk 1.50 billion, while the total number of securities is 130 million.

The sponsor-directors own 53.49 cent stake in the company while the institutional investors own 17.97 per cent, foreign investors 0.02 per cent and the general public 28.52 per cent as on September 30, 2019, the DSE data shows.

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