Linde tops weekly turnover chart after record dividend

Ten firms account for 28pc of turnover

FE Team | Published: September 13, 2024 22:30:20

FE REPORT
Linde Bangladesh dominated the weekly turnover chart this week as it declared a record 4,100 per cent interim cash dividend for January-July this year, based on audited financial reports for the period.
This is the highest ever cash dividend declared by any company listed in Bangladesh's stock market, market operators said.
The dividend will be paid out of capital gains from divestment of the company's subsidiary Linde Industries Pvt Ltd. Linde shareholders will get Tk 410 against each share.
Linde Bangladesh's earnings per share (EPS) stood at Tk 415.08 for January-July this year, which is 47 times higher than the income in the corresponding period last year. The excess income largely came from selling off the subsidiary business.
Following the news, investors continued to chase Linde shares throughout the week. As a result, Linde became the most traded stock with shares worth Tk 1.70 billion changing hands. Its stock price, however, dropped 5.36 per cent during the week to Tk 1,464.4 on Thursday.
Meanwhile, the ten most-traded firms accounted for 28 per cent of the turnover on the Dhaka Stock Exchange (DSE) in the outgoing week.
The total turnover of the week stood at Tk 32.21 billion, as against Tk 39.94 billion in the week before.
The investors are hopeful about the return of good governance after a major political shift as the new government is likely to make some structural changes for the benefit of the stock market, market operators said.
Olympic Industries came second on the turnover chart, with shares worth Tk 1.10 billion changing hands. The company's stock fell 6 per cent to close at Tk 195.5 on Thursday.
BRAC Bank clinched the third spot, with shares worth Tk 972 million changing hands. The bank's stock closed at Tk 55.2, shedding 1.78 per cent.
Agni System emerged as the fourth, with shares worth Tk 906 million changing hands during the week. The IT Company's stock price advanced 4.5 per cent to close at Tk 35 on Thursday.
NRB Bank notched the fifth spot, with shares worth Tk 818 million changing hands. The bank's stock closed at Tk 13.9, rising 4.5 per cent over the previous week.
The turnover of Grameenphone was Tk 776 million. The largest market-cap stock shed 2 per cent to close at Tk 331.6 on Thursday.
Acme Laboratories featured a turnover of Tk 725 million. The drug maker's share closed at Tk 92.7, soaring 6.31 per cent over the week before.
The turnover of IBN Sina was Tk 687 million. The company's stock closed at Tk 346, losing 2.46 per cent over the week before.
Sonali Aansh Industries featured a turnover of Tk 575 million. The company's stock closed at Tk 296.7, soaring 15 per cent.
MJL Bangladesh also made its way to the week's top turnover chart, with shares worth Tk 555 million changing hands. The company's stock shed 0.10 per cent to close at Tk 99.1 on Thursday.
babulfexpress@gmail.com