The board of directors of Associated Oxygen has recommended 2.0 per cent cash for general shareholders other than sponsors-directors and 8.0 per cent stock dividend for all shareholders for the year ended on June 30, 2020.
The final approval of the dividend will come at the company's annual general meeting (AGM) scheduled to be held on December 22 at 3:30pm through digital platform.
The record date for entitlement of dividend is November 25, according to an official disclosure on Thursday.
The newly listed company has reported earnings per share (EPS) of Tk 1.87, net asset value (NAV) per share of Tk 19.25 and net operating cash flow per share (NOCFPS) of Tk 2.66 for the year ended on June 30, 2020 as against Tk 1.51, Tk 17.37 and Tk 2.37 respectively for the same period of the previous year.
The sponsors-directors hold 29,124,186 shares, out of total 95,000,000 shares in the company.
The Associated Oxygen, which made trading debut on October 25, raised Tk 150 million from the capital market under the fixed-price method for construction of store shed, acquisition of new plant and machinery and repay bank loans.
Following dividend declaration news, the Chittagong-based company's share price soared 27.41 per cent to close at Tk 50.20 each on Thursday at the Dhaka bourse.
The company's share price jumped 402 per cent in the nine trading sessions since its debut on October 25, the highest allowable limit over the new issue.
The company's paid-up capital is Tk 950 million and authorised capital is Tk 1.10 billion, while the total number of securities is 95 million.
The sponsor-directors own 30.66 per cent stake in the company, while the institutional investors own 28.70 per cent, and the general public 40.65 per cent as on October 22, 2020, the DSE data showed.
The Associated Oxygen, which started commercial operation in 1992, is one of the leading producers and supplier of industrial gases both in liquid and gaseous forms with a well-established business relationship with their clients over the last three decades.
The company supplies oxygen and nitrogen in liquid and gaseous forms to industries and hospitals through its own sales network, according to its website.
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