BSRM’s two cos declares record dividends

Two publicly listed companies of BSRM group -- Bangladesh Steel Re-Rolling Mills Limited and BSRM Steels Limited – have declared record dividends for the year concluded June 30.

In separate filings with the Dhaka Stock Exchange, BSRM announced 50 percent and BSRM Steels 40 percent cash dividends for their shareholders.

The dividend recommendations came from their board of directors’ meetings held recently. However, the final approval regarding the dividends will come from upcoming annual general meetings, they said in the fillings.

According to the audited financial report for the year ended June 30, 2021, BSRM's earnings per share stood at Tk 18.96, which is Tk 566.11 crore in total.

From there, it recommended a cash dividend of 50 percent or Tk 5 per share for the shareholders, which stood at Tk 149.29 crore.

The company said it already paid a 10 percent interim dividend.

In the previous year 2020, the company's earnings per share (EPS) was Tk 3.90. From there, the company paid a dividend of 15 percent, or Tk 1.50 per share.

Listed in 2015, BSRM did not make such a big profit earlier. The shareholders also did not get so many dividends.

BSRM Steels Limited, another company in the same group, posted earnings per share (EPS) of Tk 8.10 for the year ended June 30, 2021.

Of this, 30 percent cash dividends have been declared for the shareholders. Earlier, it paid a 10 percent interim dividend.

The date of AGM of the two companies has been fixed on December 23. The record date has been set for November 18.