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BATBC recommends 500pc cash, 200pc stock dividend

FE Report | March 13, 2019 00:00:00

British American Tobacco Bangladesh Company (BATBC) has recommended 500 per cent cash and 200 per cent dividend for the year ended on December 31, 2018.

The board has also decided to increase authorised capital from Tk 600 million to Tk 5.40 billion by amending Clause 5 of the Memorandum of Association and Clause 5 of the Articles of Association, subject to the approval of the shareholders in the extraordinary general meeting (EGM).

The date of EGM and annual general meeting (AGM) will be held on April 28 at 10:00am and 10:30am respectively at Pan Pacific Sonargaon Hotel in Dhaka.

The record date for EGM and AGM is on April 04.

The multinational company has also reported earnings per share (EPS) of Tk 166.87, net asset value (NAV) per share of Tk 492.15 and net operating cash flow per share (NOCFPS) of Tk 150.13 for the year ended on December 31, 2018 as against Tk 130.50, Tk 385.21 and Tk 162.22 respectively for the same period of the previous year.

Following the hefty dividend decoration news, its share price rose 15.96 per cent to close at Tk 4,580 on Tuesday.

The company dominated the gainers and turnover chart, with shares worth Tk 754 million changing hands.

The BATBC, which was listed on the Dhaka bourse in 1977, disbursed 600 per cent cash dividend the year ended on December 31, 2017. In 2016, the company also paid 600 per cent cash dividend.

The company's paid-up capital is Tk 600 million and authorised capital is also Tk 600 million, while the total number of securities is 60 million.

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