Kohinoor Chemicals declares 45% dividends, invest Tk 2.20cr for overhauling

The board of directors at the Kohinoor Chemicals Company (Bangladesh) Ltd has recommended 35 percent cash and 10 percent stock dividend for 2019-20 fiscal year. 

The general meeting of the company is scheduled to take place on December 21. 

The company also reported earnings per share (EPS) of Tk 8.32, net asset value (NAV) per share of Tk 49.34 and net operating cash flow per share (NOCFPS) of Tk 1.30 for FY2019-20, against Tk 8.64 (restated), Tk 43.68 (restated) and Tk 7.81 (restated) respectively for the same period of the previous fiscal year. 

The board of directors of Kohinoor also approved Tk 2.20 crore for capital machineries, construction and major overwhelming. 

The company informed that the reasons for declaration of stock dividend is recommended out of the retained amount of the company as capital for capital machineries, construction and major overhauling. 

It also informed that the stock dividend is declared out of accumulated profit. It is not declared from the capital reserve or revaluation reserve or any unrealized 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. 

No price limit of Kohinoor share today

There will be no price limit on the trading of Kohinoor Chemicals’ shares on Sunday, following its corporate declaration. However, the floor price set by the Bangladesh Securities Exchange Commission (BSEC) will be applicable accordingly.