Esquire Knit Composite declares 15pc cash dividend

November 03, 2020 20:35:22



The Board of Directors of Esquire Knit Composite, a business unit of the Esquire Group, has recommended a 15 per cent cash dividend for the year ended on June 30, 2020.

The final approval will come during the annual general meeting (AGM) scheduled to be held at 11:00am on February 11, 2021 through digital platform.

The record date is on December 10, according to an official disclosure on Tuesday.

The company has also reported earnings per share (EPS) of Tk 1.97, net asset value (NAV) per share (with revaluation reserve) of Tk 50.61, NAV per share (without revaluation reserve) of Tk 35.88 and net operating cash flow per share (NOCFPS) of Tk 2.13 for the year ended on June 30, 2020 as against Tk 3.37, Tk 50.14, Tk 35.41 and Tk 2.16 respectively for the same period of the previous year. 

There will be no price limit on the trading of the shares of the company on Wednesday (tomorrow) following its corporate declaration, however, as per the BSEC Order dated March 19, 2020, the floor price shall be applicable accordingly.

The Esquire Knit Composite, which made trading debut on the bourses on April 9 last year, floated 34.89 million ordinary shares and raised Tk 1.50 billion from the capital market under the book-building method.

The company’s paid-up capital is 1.34 billion whereas the authorised capital is Tk 2.0 billion and the total number of securities is more than 134.89 million.

Sponsor-directors own 46.95 per cent stake in the company while institutional investors own 40.67 per cent and the general public 12.38 per cent as on September 30, 2020.

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