Renata, Coppertech, Titas gas declare dividends

The boards of Renata Limited, Coppertech Industries Ltd and Titas Gas Transmission & Distribution Company Limited have recommended cash and stock dividends for the 2019-20 fiscal year.

Renata’s board of directors recommended a 130 percent cash and 10 percent stock dividend for FY2019-20. 

The annual general meeting (AGM) of the company is scheduled to take place on December 19. 

Renata also reported consolidated earnings per share (EPS) of Tk45.29, consolidated net asset value (NAV) per share of Tk245.65, and consolidated net operating cash flow per share (NOCFPS) of Tk52.89 for FY2019-20, against Tk42.39, Tk209.91, and Tk47.76 respectively for the same period of the previous fiscal 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 have not been declared from the capital reserve or revaluation reserve or any unrealised gain or out of profit earned prior to incorporation of the company. 

It did not declare the bonus shares through reducing paid-up capital or doing anything that can make the post-dividend retained earnings become negative or a debut balance, the company stated.

Coppertech announces 2.5 percent dividend

The board of directors of Coppertech Industries Ltd has recommended a 2.5 percent cash dividend for its general shareholders for FY2019-20. 

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 Tk1.10 crore.

The company is expected to hold its AGM on January 14 next year. 

Coppertech reported EPS of Tk0.35, NAV per share of Tk11.24, and NOCFPS of Tk1.57 for FY2019-20, against Tk0.79 (restated), Tk12.18, and Tk0.09 respectively for the same period of the previous fiscal year.

The company also informed that the overall copper market was sluggish during the year. In addition to that, Covid-19 has had 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. 

The company also said that its local and foreign purchases 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 percent cash dividend

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

The AGM of the company is scheduled to take place on December 15. 

Titas gas reported consolidated EPS of Tk3.64, consolidated NAV per share of Tk 71.39, and consolidated NOCFPS of Tk4.48 for FY2019-20, against Tk4.70, Tk70.08, and Tk5.29, respectively, for the same period of the previous fiscal year.

No dividend from RN Spinning Mills

The board of directors of RN Spinning Mills Limited has recommended no dividend for the 2019-20 fiscal year. The organisation’s AGM is scheduled to take place on December 12. 

The company reported EPS of Tk0.88, NAV per share of Tk0.33, and NOCFPS of Tk0.61 for FY2019-20 against Tk15.47, Tk1.21, and Tk1.10, respectively, for the same period of the previous fiscal year