ACI Formula declares 35% dividends

ACI Formulations Limited has recommended 30-percent cash and 5-percent stock dividends for its shareholders for the year ended on June 30, 2021.

The dividend payout was recommended at the company’s board of directors meeting.

However, final approval regarding the dividends will come during the annual general meeting (AGM) scheduled for December 26, said the company in a filing with the Dhaka Stock Exchange on Sunday.

The company reported EPS of Tk 4.74 and consolidated NAV per share of Tk 66.77 during the period.

The record date for the distribution of the declared dividend among the shareholders has been fixed as November 18.

The company also has informed that dividend has not been recommended 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.

Stock dividend (bonus shares) has been recommended for utilising the retained earnings of the company as capital for ongoing operations.