Eastern Cables’ earnings decline further, declares no dividend

The Board of Directors at Eastern Cables Ltd has recommended no dividend for the 2019-20 fiscal year. 

The annual general meeting of the company is scheduled to take place on February 20 next year. 

The company reported negative earnings per share (EPS) of Tk 6.46 for the 2019-20 FY against negative Tk 4.72 last year 

The net asset value per share is Tk 15.11, against Tk 22.07 for the same period of last fiscal year. However, the net operating cash flow per share (NOCFPS) of the company remained negative at Tk 3.59, a slight improvement from negative Tk 10.19 from last FY. 

Following the corporate declaration, the company said that there will be no limit on the trading of its shares. A floor price, however, will be applicable accordingly as per the BSEC order.