The Bangladesh Securities and Exchange Commission (BSEC) has granted approval for Confidence Cement Limited to issue a 5% stock dividend for the fiscal year 2022-23.
The Chattogram-based Confidence Group recommended a distribution of 5% cash and 5% stock dividends for the mentioned fiscal year. To determine the eligible shareholders for this dividend, the company has set the record date on January 16. In the July to September quarter of the ongoing fiscal year 2023-24, Confidence Cement Limited witnessed a nearly 42% year-on-year increase in consolidated net profit, reaching Tk18.66 crore, attributed to reduced raw materials cost and foreign currency fluctuation loss.
The consolidated earnings per share for this period stood at Tk2.27. The company’s revenue also experienced a 2.38% increase, reaching Tk92.18 crore in the September quarter. Confidence Cement Limited, established in 1991 and commencing commercial operations in 1994, is listed on both stock exchanges since 1995. As the flagship company of Confidence Group, it is involved in the manufacturing of cement, aggregates, and ready-mix concrete, boasting an annual cement production capacity of 12 lakh tonnes.
The last trading price of the company’s shares on the Dhaka Stock Exchange was Tk89 each.
