Monospool rises over 20% on dividend declaration

The share price of Bangladesh Monospool Paper Manufacturing Co. Limited rose 21 percent to Tk 234 at the beginning of the trade on Thursday.

The company has recommended a 10 percent cash and 10 percent stock dividend for the year ending on June 30, 2022.

The company also reported a hefty increase in its earnings per share (EPS). Its EPS grew by 343 percent to Tk 5.45.

Monospool said that EPS has soared due to an increase in revenue and profit this year compared to the previous year. The company has also informed the reasons for stock dividend: i) Stock Dividend has been declared for utilization of the fund as working capital. ii) The bonus shares are declared out of accumulated profit.

The record date for entitlement of cash dividend has been set on October 24 and another record date for entitlement of stock dividend will be notified later after getting approval from BSEC, said the company in ailing posted on DSE.