Keya Cosmetics earnings finally get positive, offers 2% dividend

The board of directors at Keya Cosmetics Ltd has recommended a 2 percent stock dividend for 2019-20 fiscal year (FY). However, the company didn’t offer any dividend for the previous FY.

In a statement on the Dhaka Stock Exchange (DSE) on Sunday, the company also informed that the court order on December 9 allowed the company to complete AGMs for the year 2019 and 2020 within January 20 of next year.

In its statement, the company reported earnings per share (EPS) of Tk0.24, net asset value (NAV) per share of Tk0.25 and net operating cash flow per share (NOCFPS) of Tk2.05 in the negative for FY2019-20, as against negative Tk12.94, Tk0.02 and negative Tk0.98 respectively for the same period of the previous year.

The company also informed that the declaration of stock dividend came because the company has already opened a few machineries L/C's as BMRE of the factory, which will be adjusted from its own source.

For this BMRE, the company needs more cash flow this year.

It also said that the bonus share is declared from current year profit and it will not negatively affect the retained earnings.

Following the corporate declaration, there will be no price limit on the trading of the company’s shares. However, the floor price set by the Bangladesh Securities Exchange Commission (BSEC) will be applicable accordingly.

The annual general meetings (AGM) of the company for both FY2018-19 and FY2019-20 are scheduled to take place on January 19 next year.