Confidence Cement will install the cost effective Slag Dryer plant on the factory premises for ensuring uninterrupted production of existing Unit-2 and Unit-3 plants.
The board has also decided to demolish the Unit-1 plant on the factory premises as the plant is not able to deliver cost effective production for the company, said an official disclosure on Tuesday.
Maintenance cost and consumption of high electricity of the Unit-1, with production capacity is 600MT per day, was also a reason for shutdown of the unit as it is not financially viable for the company, said the disclosure.
Meanwhile, the board of directors of the company has recommended 15 per cent cash and 20 per cent stock dividend for the year ended on June 30, 2018.
The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on December 23 in Chattogram. The record date is on November 22.
The company has reported earnings per share (EPS) of Tk 6.93, net asset value (NAV) per share of Tk 76 and net operating cash flow per share (NOCFPS) of Tk 9.41 negative for the year ended on June 30, 2018 as against Tk 9.23 (restated), Tk 84.10 and Tk 9.35 respectively for the same period of the previous year.
The company, which was listed on the Dhaka bourse in 1995, also disbursed 15 per cent cash and 20 per cent stock dividend in 2017.
Each share of the company closed at Tk 216.10 on Tuesday at Dhaka bourse, gaining 3.45 per cent over the previous day.
Wata Chemicals: The board of directors of Wata Chemicals has recommended 10 per cent cash and 30 per cent stock dividend for the year ended on June 30, 2018.
The record is on November 20. Date, time and venue of the annual general meeting will be notified later, according to a discourse on Tuesday.
The company has also reported EPS of Tk 5.51, NAV per share of Tk 76.55 and NOCFPS of Tk 5.49 for the year ended on June 30, 2018 as against Tk 3.93 (restated), Tk 73.95 (restated) and Tk 8.71 (restated) respectively for the same period of the previous year.
The company, which was listed on the Dhaka bourse in 1992, disbursed 10 per cent cash and 5.0 per cent stock dividend in 2017.
Each share of the company closed at Tk 348.40 on Tuesday, soaring 8.47 per cent over the previous day.
The sponsor-directors own 36.41 per cent stake in the company, while institutional investors own 38 per cent and the general public 25.59 per cent as on September 30, 2016.
The company's paid-up capital is only Tk 91.22 million and authorised capital is Tk 150 million, while total number of securities is 9.12 million, according to statistics from the DSE.
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