Sayham Textile will pay 1 rupees per share

Senior Reporter: Sayham Textile, a textile company, has announced a 10 per cent cash dividend for investors who return to profit after cutting losses. That means one rupee per share will be given.

The company’s board of directors made the decision on Thursday after reviewing its accounts for the fiscal year ended June 30.

According to the report, from July 2020 to last June, the earnings per share of PDL has been 1 11 paise. At the same time last year, the company lost 7 paise. No dividends were paid to investors due to losses that year.

In the just-ended financial year, the company was profitable from the first quarter. The income till the third quarter was 84 paise. In other words, the earnings per share in the last quarter was 57 paise.

Wealth has also risen against the company’s shares in one year. At the end of June 2020, the assets per share was 41 rupees 7 paise. This time it has increased to 42 rupees 91 paise.

The share price of the company is less than its asset value. The lowest price in the last one year was 16 rupees. The highest price was 26 rupees 90 paise. After rising to this rate, however, the price goes down a bit. However, on the day of the dividend announcement, the share price increased by 9.95 percent or Tk 2.20 paise to Tk 24.30 paise.

The company has set a record dividend date of November 18. In other words, those who want to take dividends, they have to hold the shares on that day. The annual general meeting has been called on December 22 to approve the dividend.

Syham Cotton, a previous company in the same group, also declared a similar dividend. The company also did not pay dividends due to losses in the previous year.

The company’s share price rose 10 percent on Thursday after announcing the decision on Wednesday.


Source: Daily StockBangladesh by www.dailystockbangladesh.com.

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