One of the Listed Companies, Ring Shine Textiles Limited has recommended NO Dividend to its investors for the Financial Year ending June 30, 2021.
This source is known from DSE.
The Company has reported EPS loss of Tk 1.75 paisa, NAV per share loss of Tk 1.46 for the year ended June 30, 2021, as against EPS of Tk 0.29 paisa (restated & audited).
It is also known reasons for significant deviation in EPS and NAVPS: During the global Covid pandemic outbreak, the factory was in layoff from 15 April 2020 to 12 June 2021 due to insufficient orders. Besides, assets and liabilities have been restated. As such, EPS and NAVPS are all negative due to the losses in non-operation
The Board of Directors has also recommended NO Dividends for the year ended June 30, 2022.
The Company has also reported EPS loss of Tk 1.54 paisa, NAV per share loss of Tk 2.50 for the year ended June 30, 2022, as against EPS loss of Tk 1.75 paisa.
The Annual General Meeting (AGM) of the company will be held on June 20 through the digital platform. The record date for this has been fixed at May 10.
Reasons for significant deviation in NAVPS and EPS: Due to the economic downturn and business impact from the global pandemic, there were insufficient orders with production running at a loss. As such, NAVPS and EPS are all negative due to the losses as the operation was not able to break even.
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