Stocks
BSEC Approves 250% Stock Dividend for Himadri’s instead of 700%
The Bangladesh Securities and Exchange Commission (BSEC) has granted approval for a 250% stock dividend, a reduction from the initially declared 700%, for Himadri Limited, an SME platform company under the Ejab Group. The company had earlier announced a record dividend of 700% stock and 10% cash for the fiscal year 2022-23. An anonymous official from the company revealed that the BSEC approval was obtained after applying for consent, and the company has now sought a review of the decision by submitting the required documents.
The company’s objective was to increase its paid-up capital, aligning with BSEC requirements for transitioning to the main market. Failure to consider this adjustment might result in a delay in the process of entering the main market, the official expressed. The company is set to hold its annual general meeting on December 27, with a record date of December 21.
The stock dividend, sourced from retained earnings rather than capital or revaluation reserves, proposes to provide shareholders with seven new Himadri shares for each existing share, effectively increasing the paid-up capital sevenfold from its current Tk75 lakh. The last closing share price of the company was Tk6,999 on the Dhaka Stock Exchange.
Established in 1974, Himadri Limited specializes in offering cold storage facilities for agro-based products, primarily potatoes, with six potato cold storage located in various regions. The company transitioned to the SME platform in September 2021 from the over-the-counter market, where its shares were last traded on March 8, 2014.
According to price-sensitive information, the company’s earnings per share witnessed a 43% year-on-year increase, reaching Tk7.62 by the end of FY23.
Dhaka Stock Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.
503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.
The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.
Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.
Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.
Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.
DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.
A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka
One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.
It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.
The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.
The Company also discloses its financial reports for the second quarter, (April – June 24).
As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.
For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.
Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.
One of the Listed companies, Beacon Pharmaceuticals PLC has recommended 20% Cash dividend and 10% Cash Dividend to Sponsor Shareholder and Directors for the year ended June 30, 2024.
It has reported EPS of Tk 2.26 paisa, and NAV per share of Tk. 26.37 for the year ended June 30, 2024.
The Annual General Meeting (AGM) of the company will be held on December 23, through the digital platform. The record date for this has been fixed at October 27.
