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Meghna Petroleum to pay 140pc cash dividend

FE Report | November 09, 2018 00:00:00


The board of directors of Meghna Petroleum Ltd. has recommended 140 per cent cash dividend for the year ending on June 30, 2018.

The final approval for the dividend will come from the annual general meeting (AGM) of the state-run company, scheduled to be held in Chattogram on January 12, 2019, said an official disclosure on Thursday.

The board of directors has also decided to hold an extraordinary general meeting (EGM) on January 12 for a correction to a clause of the 'Articles of Association' regarding the increase of number of directors in the board of the company.

The record date for EGM and AGM is December 02.

The Meghna Petroleum Ltd. has also reported earnings per share (EPS) at Tk 33.30, net asset value (NAV) per share at Tk 113.20 and net operating cash flow per share (NOCFPS) at Tk 111.77 for the year ending on June 30, 2018 as against Tk 20.28, Tk 90.89 and Tk 54.39 respectively for the same period of the previous year.

The company also disclosed the EPS for first quarter (Q1) on Thursday. As per unaudited financial statements, EPS was Tk 8.06 for July-September 2018 as against Tk 6.03 for July-September 2017.

The NOCFPS was Tk 49.85 for July-September 2018 as against Tk 45.99 for July-September 2017. NAV per share was Tk 121.26 as on September 30, 2018 and Tk 113.20 as on June 30, 2018.

Meghna Petroleum, which was listed on the Dhaka bourse in 2007, disbursed 110 per cent cash dividend in 2017.

Each share of the company closed at Tk 200.70 on Thursday, soaring 4.25 per cent over the previous day.

Its share price traded between Tk 174.90 and Tk 205 in the last one year.

The company's paid-up capital is Tk 1.08 billion and authorised capital is Tk 4.0 billion, while total number of securities is 108.21 million, according to statistics from the DSE.

The government owns 58.67 per cent stake in the company, while the institutional investors own 32.72 per cent and the general public 8.61 per cent as on September 30, 2018.

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