The Financial Express

Titas Gas recommends 22pc cash dividend

| Updated: October 28, 2017 00:54:14

Titas Gas recommends 22pc dividend

The board of directors of Titas Gas Transmission & Distribution Company Limited has recommended 22 per cent cash dividend for the year ended on June 30, 2017, said an official disclosure on Thursday.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on December 21 at 10:00am at Officers’ Club, Dhaka.

The record date for entitlement of dividend is on November 16, 2017.

The company has also reported earnings per share (EPS) of Tk 5.12, net asset value (NAV) per share of Tk 65.49 and net operating cash flow per share (NOCFPS) of Tk 4.07 for the year ended on June 30, 2017 as against Tk 7.37, Tk 61.33 and Tk 11.17 respectively for the same period of the previous year.

In 2016, the company disbursed 20 per cent cash dividend.

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

Each share of the company, which was listed on the Dhaka bourse in 2008, closed at Tk 46.90 on Wednesday at the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is Tk 9.89 billion and authorised capital is Tk 20 billion, while the total number of securities is 989.22 million.

The government owns 75 per cent stake in the company, while institutional investors own 13.44 per cent, foreign 1.52 per cent and the general public 10.04 per cent as on September 30, 2017, the DSE data shows.

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