FE Today Logo
Search date: 25-10-2020 Return to current date: Click here

Square Pharma to spend Tk 2.5b for biz expansion

FE REPORT | October 25, 2020 00:00:00

Square Pharmaceuticals has approved Tk 2.50 billion for spending on BMRE (Balancing Modernisation Rehabilitation and Expansion), capital machinery and future expansion.

The approval came Thursday at a board meeting held to recommend dividend and consider financials, among others, for the year ended on June 30, 2020, according to a corporate disclosure.

"The board of directors has approved Tk 2.5 billion for BMRE, capital machinery and future expansion," said the disclosure of Square Pharmaceuticals.

In Thursday's meeting, the company's board also recommended 47 per cent cash and 5.0 per cent stock dividend for the year ended on June 30, 2020.

In its disclosure, the company said bonus shares were recommended with a view to utilising its retained amount as capital for business expansion.

"Bonus shares are declared out of accumulated profit. Such shares are not declared from capital reserve or any unrealised gain," the company's disclosure said.

They distributed 42 per cent cash and 7.0 per cent stock dividend for the year ended on June 30, 2019.

The company has reported consolidated earnings per share (EPS) of Tk 15.82 for the year ended on June 30, 2020 against Tk 14.98 for the corresponding period of the previous year.

The company has also reported its consolidated net asset value per share of Tk 91.57 for 2019-20 against Tk 80.40 for 2018-19.

Share if you like