S Alam Steels recommends 10pc cash div

The board of directors of S Alam Cold Rolled Steels has recommended 10 per cent cash dividend for the year ended on June 30, 2016, said an official disclosure on Sunday.


 The final approval will come during the annual general meeting (AGM) scheduled to be held on 07 January, 2017 at 11am at Chittagong Club in Chittagong.

The record date for entitlement of dividend is on November 07.

The company has also reported earnings per share (EPS) of Tk 1.08, net asset value (NAV) per share of Tk. 19.44 and net operating cash flow per share (NOCFPS) of Tk. 6.85 for the period of 9 months ended on June 30, 2016 which were Tk. 1.23, Tk. 19.86 and Tk. (19.47) respectively for the period of 12 months ended on September 09, 2015.

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

The company’s share price hovered between Tk 25.50 and Tk 26.70, before closing at Tk 26.70 on Thursday last.

The board of directors of the company disbursed 15 per cent cash dividend for the year ended on September 30, 2015.

The company was listed on the Dhaka bourse in 2006. The company belongs to the “A” category.

The company’s paid-up capital is Tk 983.71 million and authorised capital is Tk 3,500 million while the total number of securities is 98,371,100, the DSE data showed.

The sponsor-directors own 48.50 per cent stake in the S Alam, while the institutional investors 27.28 per cent and the general public 24.22 per cent as on August 31, 2016, the DSE data showed.