Bangas Ltd’s earnings drop by 70%, declares 5% dividend

The earnings per share (EPS) of Bangas Ltd have dropped by 70 percent to Tk0.60 for 2019-20 fiscal year (FY), as against Tk2.05 for the same period of previous FY.

In a statement on the Dhaka Stock Exchange (DSE) on Thursday, the company said that the board of directors has recommended a 5 percent cash dividend for the year.

The company also reported net asset value (NAV) per share of Tk21.67 and net operating cash flow per share (NOCFPS) of Tk1.54 for 2019-20 FY as against Tk21.58 and Tk0.56 in the negative respectively for the same period of the previous FY.

Following the corporate declaration, there will be no price limit on the trading of the shares of the company.

However, the floor price set by the Bangladesh Securities Exchange Commission (BSEC) will be applicable accordingly.

The annual general meeting of the company is scheduled to take place on December 30 on a digital platform.

Established in 1980, Bangas Limited is a food manufacturing company located in Dhaka that manufactures and exports a wide array of bread, biscuits, noodles, vegetable snacks and chips.

It currently exports its products to Asia, USA and Europe.