Aman Feed recommends 10% cash, 2.5% stock dividends

Aman Feed Ltd has recommended 10% cash and 2.5% stock dividends for its shareholders for the year that ended on 30 June, 2020.

The payout was recommended at the company's board meeting on Sunday evening, which was published on the Dhaka Stock Exchange (DSE) website on Monday.

Approval of the dividend is due to be finalised at the annual general meeting slated for 30 December. 13 December is set as the record date.

According to the price-sensitive information released by the company, it reported earnings per share (EPS) of Tk2.71 as of June 2020, which was Tk3.75 in the previous financial year.

The company's EPS fell by 28% compared to the previous year.

It paid a 13% cash dividend to its shareholders for the 2018-19 financial year.

On 22 October this year, the Bangladesh Securities and Exchange Commission (BSEC) set up an inquiry committee to look into alleged irregularities in the financial statements and corporate governance of Aman Feed.

The securities regulator came up with the move after it had found different anomalies in the activities of the company, which manufactures and distributes poultry feed, fish feed, shrimp feed, and cattle feed.

The committee will verify all the information in Aman Feed's audited financial statements from 2015 to 2020 as per the International Accounting Standards and International Financial Reporting Standards.

It will also examine the issue of AB Bank's loan given to the company.

In September, AB Bank arranged an auction for the sale of the company's land and factory.