Surprise in Saif Powertech’s profits and dividends

Sharebarta24.com, Dhaka: Listed company Saif Powertech has decided to increase its income and dividend. On Wednesday, the company’s board of directors reviewed the accounts for the fiscal year ended June 30 and decided to pay a 16 percent dividend to shareholders.

Of this, 10 percent will be given in cash and 6 percent will be given as bonus. In other words, investors will get 1 share per share as well as 8 shares for every 100 shares. This dividend is the highest in the last four years, not just last year.

In 2017, a cash dividend of 50 paise per share was given along with 6 percent bonus, in 2019 along with 6 percent bonus 40 paise per share and in 2020 a cash dividend of 50 paise per share was given along with 5 percent bonus.

According to the report, from July 2020 to last June, the company has been able to earn 1 taka 75 paise per share. Last year’s income was 1 taka 7 paise. In other words, the income has increased by 7 paisa or 72 percent. The lion’s share of this income was in the fourth quarter from April to June. In these three months, the company has earned Rs 1 per share. Earnings per share in the previous three quarters was 75 paise.

In addition to income, the company’s asset value has also increased. In June 2020, the company’s assets against the shares were 18 rupees 73 paise. After one year it has increased to 16 rupees 11 paise. Saif Logistics Alliance, a subsidiary of the company, has announced an investment of Tk 40 crore for the construction of a container terminal near Chittagong Port.

Before the announcement and after earning more than last year, the company’s share price has jumped. Shares of the company have fluctuated from Tk 13.20 to Tk 49 in the last one year. However, on the day of the declaration of dividend, it has come down to 42 rupees 60 paise.

The record date for the company’s dividend is set for November 18. In other words, if you want to take dividends, you have to hold the shares on that day. Dividends will be approved at the annual general meeting on December 29.


Source: Share Barta 24 by www.sharebarta24.com.

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