JMI Syringes declares 36% stock dividend

JMI Syringes and Medical Devices Limited has recommended a 36 percent stock dividend for its shareholders for the year ended on June 30, 2022.

The dividend payout was recommended at the company’s board of directors meeting, said the company in a filing with the Dhaka Stock Exchange (DSE) on Tuesday.

However, final approval regarding the dividend will come during the Annual General Meeting (AGM) scheduled for December 21, 2022, to be held on a digital platform.

The company has reported EPS of Tk 4.55 and consolidated NAV per share of Tk 124.25 during the period.

The record date for the distribution of the declared dividend among the shareholders has been fixed as November 14, 2022.

The company informed that stock dividend has been recommended for increasing minimum paid-up capital of Tk 30 crore.

They also said that Bonus shares have declared out of the accumulated profit or retained earnings.

Bonus shares are not declared from capital reserve or revaluation reserve or any unrealised gain or out of profit earned prior to incorporation of the Company or through reducing paid up capital or through doing anything so that the post dividend retained earnings become negative or a debit balance, the company added.