Senior Reporter: Index Agro Industries has seen a decline in earnings after being listed on the stock exchange. The diversified company has decided to pay 25 per cent cash dividend to ordinary investors only for the financial year ended June 30. However, the entrepreneur-managers will not take any dividend this time.
The decision was taken at a meeting of the company’s board of directors on Thursday and the information was published on the website of the Dhaka and Chittagong Stock Exchanges on Sunday.
According to the decision of the board, the investors will get 25 percent cash dividend, which means two and a half rupees per share. The company, which started trading in the capital market on April 6, declared its first dividend.
The company’s revenue has declined since it was listed. In the previous year, the earnings per share was 7 rupees 8 paise. And this time it has been 5 rupees 63 paise. In 2019, the company’s earnings per share was 6 rupees 7 paise.
Those who want to take dividends will have to hold the shares on October 31. That means there will be a record date on that day. The annual general meeting will be held on December 9 to finalize the dividend.
Entrepreneurs-managers hold 56.8% of the company’s shares divided into 4 crore 82 lakh 53 thousand 749 shares. In other words, dividend will be distributed against the remaining 42.23 percent.
In the just ended financial year, their total income has been 26 crore 70 lakh 36 thousand 44 taka. Of this, a dividend of Tk 4 crore 96 lakh 6 thousand 40 will be distributed against 1 crore 99 lakh 55 thousand 218 shares.
The book-listed company has raised Rs 50 crore from the capital market. Ordinary investors received Rs 50 per share and institutionally qualified investors received Rs 72 each.
However, despite the decline in income, the company’s asset value has increased. On June 30, 2020, the asset value per share was 51 rupees 71 paise. It has increased to 56 rupees 26 paise.
After listing, the company’s share price has risen from Tk 55.80 to a maximum of Tk 148. But later it decreased. On the day of the declaration of dividend, the share price increased by Tk 2.90 and traded at Tk 116.50.
Source: Daily StockBangladesh by www.dailystockbangladesh.com.
*The article has been translated based on the content of Daily StockBangladesh by www.dailystockbangladesh.com. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!