Samata Leather’s earnings plunge, offers no dividends

The earnings of Samata Leather Complex Ltd has declined by 67.86%, according to a statement posted on the Dhaka Stock Exchange (DSE) website on Monday. 

Samata reported earnings per share (EPS) of Tk0.09 for the 2019-20 fiscal year against Tk0.28 for the previous fiscal year. 

The board of directors has recommended no dividends due to the declining earnings. Last year, the company had declared 2% stock dividends. 

In its statement, the company said that it could not offer any dividends this time around because of the ongoing development work at Hemayetpur, Savar and longtime disruption in production due to the Covid-19 pandemic.

The company also reported net asset value (NAV) per share of Tk14.39 and net operating cash flow per share (NOCFPS) of Tk0.42 for the year ended on June 30, 2020, against Tk14.61 and Tk0.36, respectively, for the same period of the previous fiscal year.

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 28 on its Hazaribagh factory premises.