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 last working day of the week, 25th July, ended with a hike in Indices and Turnover from the previous working session. This information is known from DSE sources.
497 crore 34 lakh taka shares were traded on this day. 337 crore 97 lakh more tradings were done in DSE today compared to the previous workday, July 24th, Shares worth Tk 159 crores 37 lakh shares were traded last time, Wednesday.
The benchmark DSEX increased 62.81 points or 5,413 The Shariah-based index DSES added 13.81 points or 1,183 and the blue-chip index DS30 gained by 24.25 points or 1,932.
Of the issues traded, 286 advanced, 66 declined and 40 remained unchanged.
Techno Drugs Limited ranked top gainer on DSE, the share price increased by Tk 3.80 paisa or 9.87 percent. On this day, the share was last traded at Tk 42.30 paisa.
Rangpur Foundry Limited ranked top loser on the DSE, the share price dropped by Tk 5.40 paisa or 2.98 percent. On this day, the share was last traded at Tk 175.70 paisa.
DSE topped on trade is Square Pharmaceuticals PLC 35 crore 9 lakh takas of company shares have been traded.
A total of 28 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 82 lakh 94 thousand 29 shares of the companies were traded. The financial value of which is 21 crore 92 lakh taka
One of the listed companies, Eastland Insurance Company Limited discloses its financial reports for the second quarter, (April – June 24).
The company’s earnings per share (EPS) Tk 0.27 paisa in Q2 of the current financial year (April – June 24). EPS was Tk. 0.41 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. NAV per share was Tk. 20.85 as of June 30, 2024.
One of the listed companies, Shahjalal Islami Bank PLC discloses its financial reports for the second quarter, (April – June 24).
The company’s Consolidated earnings per share (EPS) Tk 1.50 paisa in Q2 of the current financial year (April – June 24). Consolidated EPS was Tk. 1.50 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. Consolidated NAV per share was Tk. 20.85 as of June 30, 2024.
