Envoy Textile's earning per share slumps 51pc

The earnings per share (EPS) of Envoy Textiles Ltd plunged nearly 51 per cent year-on-year for the year ended on June 30, 2020 as export declined due to pandemic.
The board of directors of the company has recommended a 5.0 per cent cash dividend for the year ended on June 30, 2020, according to an official disclosure on Tuesday.
The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on December 28 at 11:00am through digital platform.

The record date for entitlement of dividend is on November 15.
The textile company's earnings per share (EPS) plunged 51 per cent year-on-year to Tk 1.63 for the year ended on June 30, 2020. The company's EPS was Tk 3.31 for the year ended on June 30, 2019.
The company has also reported net asset value (NAV) per share of Tk 40.57 and net operating cash flow per share (NOCFPS) of Tk 1.56 for the year ended on June 30, 2020 as against Tk 38.35 and Tk 2.58 respectively for the same period of the previous year.
In 2019, the textile company disbursed 15 per cent cash dividend.
Each share of the company, which was listed on the Dhaka Stock Exchange (DSE) in 2012, closed at Tk 29.30 each on Tuesday, losing 1.68 per cent over the previous day.
Its share traded between Tk 18.40 and Tk 32.20 in the last one year.
The company's paid-up capital is Tk 1.67 billion and authorised capital is Tk 4.0 billion while total number of securities is 167.73 million.
The sponsor-directors own 45.58 per cent stake in the company, institutional investors own 41.90 per cent, foreign investors 0.07 per cent and the general public 12.45 per cent as on August 31, 2020, the DSE data shows.
Incorporated in 1995, Envoy Textiles is a manufacturer of 100 per cent export-oriented denim fabric, is the first denim project in Bangladesh with rope-dyed technology and one of the country's leading companies in this sector.
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