Sonali Paper recommends 40 per cent dividend

Sonali Paper & Board Mills has recommended 20 per cent cash and 20 per cent stock dividend for the year ended on June 30, 2021.

In a disclosure, the company said its dividends are recommended out of the distributable profit for that period.

"The board of directors has also made a recommendation of raising the paid up capital through issuance of rights share at a ratio of 1R:2," the disclosure said.

One rights share will be issued against two existing shares at Tk. 10.00 each after considering 20 per cent stock dividend for the year ended on June 30, 2021 subject to the approval of the shareholders along with complying with relevant rules and regulations.

The fund that will be collected through rights offer will be utilised for procurement of capital machinery as part of re-investment.

The company has also reported EPS of Tk. 4.89, NAV per share of Tk. 284.33 and NOCFPS of Tk. 13.53 for the year ended on June 30, 2021 as against Tk. 1.46, Tk. 307.88 and Tk. 13.31 respectively for the same period of the previous year.

The company has informed that during the financial year sales and other income have been increased, as a result the net profit and EPS have also been increased compared to the previous financial year.

It also informed that stock dividend to be issued as part of re-investment to enhance paid-up capital.

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