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Tuesday, January 23, 2018

S Alam Cold Rolled Steels approves 10pc dividend

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The board of directors of S Alam Cold Rolled Steels Limited has approved 10 per cent cash dividend for the year ended on June 30, 2017. The final approval of dividend came at the 17th Annual General Meeting (AGM) of the company held at the Radisson Blu Chittagong Bay View on Friday.

In the AGM, Abdus Samad re-elected as Sponsor Director while Md Shah Jahan made Institutional Investor Director and Halima Begum Bina made as the General Investor Director and Chartered Accountants Ms Rahman Mustafa and Company made as the auditor of the next year. 

Among others, Director Osman Goni, ICB Nominated Director Md Md Shah Jahan, Director Halima Begum, Non Shareholder Independent Director Md Ishak, among others, and a large number of shareholder were present in the AGM.  The record date for entitlement of dividend is on November 14, 2017.

Earlier on October 25 last year, the company has also reported consolidated earnings per share (EPS) of Tk 1.11, consolidated net asset value (NAV) per share of Tk 19.55 and consolidated net operating cash flow per share (NOCFPS) of Tk (18.39) for the year ended on June 30, 2017 which was Tk. 1.08, Tk. 19.44 and Tk. 6.85 respectively for the 9 months period from October 01, 2015 to June 30, 2016. The company's paid-up capital is Tk 983.71 million and authorized capital is Tk 3.0 billion while total number of securities is 98.37 million.

The sponsor-directors own 48.50 per cent stake in the company, institutional investors own 29.64 per cent and the general public 21.86 per cent as on September 30, 2017, the DSE data shows.

-AA Business Desk

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