Stocks
2.5pc cash dividend declared by Peninsula Chittagong
The Peninsula Chittagong Limited has declared a 2.5pc cash dividend for its shareholders for the year ended on June 30, 2022.
The dividend payout was declared at the company’s board of directors meeting, said the company in a filing with the Dhaka Stock Exchange (DSE) on Tuesday, 18 October.
Hence, final approval regarding the dividend will come during the Annual General Meeting (AGM) scheduled for December 19, 2022, on digital platform.
The company has stated EPS of Tk 0.19 and consolidated NAV per share of Tk 29.47 during the period.
The record date for the distribution of the declared dividend among the shareholders has been fixed as November 14, 2022.
The company has also informed that during this year revenue has been increasing significantly by 22.65pc from last year due to improvements in the Covid situation.
The administrative expenditure, cost of goods sold and selling expenditure also went up by 27.93pc, 45.45pc and 37.47pc respectively.
They also said that subsequent to the improvement of the pandemic Covid situation all product prices were hiked worldwide. But the management could not raise the selling price of food, accommodation, and services.
As a result, net profit dropped by 52.55pc, which caused a significant deviation in EPS.
Orthosongbad/NR
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.
The Bangladesh Securities and Exchange Commission (BSEC) has removed three audit firms from its panel for their failure to secure enlistment with the Financial Reporting Council (FRC), according to a notice issued today.
The firms—A Hoque & Company, FAMES & R, and SK Barua & Company Chartered Accountants—were delisted following the FRC’s request. In December last year, the FRC published a list of enlisted audit firms and subsequently, in February, requested the BSEC to remove any firms that were not included on that list.
BSEC regulations mandate that financial statements signed by auditors outside its approved panel will not be accepted. With the removal of these three firms, the total number of audit firms on the BSEC panel has been reduced from 48 to 45.
Sources from the FRC revealed that 15-20 audit firms failed to secure enlistment last year, and approximately 45 chartered accountants are currently under restrictions imposed by the Institute of Chartered Accountants.
Although the delisted firms can no longer audit issuer companies or listed securities, they are allowed to complete audit and assurance services that were initiated before their removal, the BSEC clarified.
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