Renata, Coppertech, Titas gas declares cash and stock dividend for 2019-20 FY

The board of directors of Renata Limited, Coppertech Industries Ltd and Titas Gas Transmission & Distribution Company Limited has recommended cash and stock dividends for the 2019-20 fiscal year (FY).

Renata board of directors recommended a 130 percent cash and 10 percent stock dividend for 2019-20 FY. 

The Annual General Meeting (AGM) of the company is scheduled to take place on December 19. 

Renata also reported consolidated EPS of Tk 45.29, consolidated NAV per share of Tk 245.65 and consolidated NOCFPS of Tk 52.89 for 2019-20 FY, against Tk42.39, Tk209.91 and Tk47.76 respectively for the same period of the previous year.

The company also said that the bonus shares have been recommended in view to utilise its retained amount as capital for manufacturing facility expansion. 

It further said that the bonus shares are declared out of accumulated profit. 

Renata Ltd also said that bonus shares are not declared from the capital reserve or revaluation reserve or any unrealised gain or out of profit earned prior to incorporation of the company. It’s not declared through reducing paid-up capital or doing anything that can make the post-dividend retained earning become negative or a debut balance.

Coppertech announces 2.5% dividend

The board of directors of Coppertech Industries Ltd have recommended a 2.5% cash dividend for general shareholders for 2019-20 FY. 

The sponsors and directors of the company hold 1.89 crore shares and general shareholders hold 4.4 crore shares of Coppertech and the cash dividend to be payable to the general shareholders is Tk 1.10 crore.

The company is expected to hold an Annual General Meeting (AGM) on January 14 next year. 

Coppertech reported EPS of Tk 0.35, NAV per share of Tk 11.24 and NOCFPS of Tk 1.57 for FY 2019-20, against Tk 0.79 (restated), Tk 12.18 and Tk 0.09 respectively for the same period of the previous year.

The company also informed that the overall copper market was sluggish during the year. In addition to that COVID-19 has a devastating impact on the sales of the company. 

Historically, Coppertech observed a boom in sales in the last quarters (April, May and June), whereas the sales were stopped in the month of April and May due to the countrywide shutdown. 

As a result, the sales reduced by 27.19 percent. Fixed and other costs, on the other hand, increased compared to last year. As a result, EPS has reduced significantly. 

As per the increasing NOCFPS, the company said that it’s local and foreign purchase have reduced by 34.25 percent due to the pandemic. In addition to that, payment from the suppliers also reduced by 32.71 percent. As a result, NOCFPS has increased significantly. 

Coppertech further announced that there will be no price limit on the trading of the shares of the company today following its corporate declaration, 

However, the floor price as per the BSEC order shall be applicable accordingly.

Titas gas declares 26% cash dividend

The board of directors of Titas Gas Transmission & Distribution Company Limited has recommended 26 percent cash dividend for the year ended on June 30, 2020.

The Annual General Meeting (AGM) of the company is scheduled to take place on December 15. 

Titas gas reported consolidated EPS of Tk 3.64, consolidated NAV per share of Tk 71.39 and consolidated NOCFPS of Tk 4.48 for 2019-20 FY, against Tk 4.70, Tk 70.08 and Tk 5.29 respectively for the same period of the previous year.

No dividend from RN Spinning Mills

The board of directors of R N Spinning Mills Limited has recommended no dividend for the 2019-20 FY. An AGM of the organisation is scheduled to take place in December 12. 

The company reported EPS of Tk 0.88, NAV per share of Tk 0.33 and NOCFPS of Tk 0.61 for the FY 2019-20 as against Tk 15.47, Tk 1.21 and Tk 1.10 respectively for the same period of the previous year.