FE Today Logo

S. S. Steel to invest Tk 200m

FE Report | November 26, 2021 00:00:00

S. S. Steel will make a fresh investment of Tk 200 million for the purpose of its business expansion.

The company's board of directors has approved the proposal of new investment, a disclosure said.

The company will purchase land, building and capital machinery to implement its business expansion plan.

S. S. Steel has reported consolidated EPS of Tk. 2.31for the year ended on June 30, 2021 as against Tk. 1.55 (solo) for the same period of the previous year.

The company's board of directors has recommended 2.0 per cent cash dividend for general shareholders other than sponsors and directors and 8.0 per cent stock dividend for all shareholders for the year ended on June 30, 2021.

The company has said bonus shares have been recommended in view to utilise its retained amount as capital for business expansion.

"Bonus shares are declared out of accumulated profit."

S. S. Steel, presently an 'A' category company, was listed on stock exchanges in 2019.

The company's sponsor-directors hold 31.79 per cent shares, institutes 13.28 per cent and general shareholders 54.93 per cent as on October 31, 2021.

[email protected]

Share if you like