Confidence Cement allowed to issue 5% stock dividend
Stocks
The Bangladesh Securities and Exchange Commission (BSEC) has allowed Confidence Cement Limited to issue a 5% stock dividend for the 2022-23 fiscal year.
The Chattogram-based Confidence Group concern had recommended 5% cash and 5% stock dividends for FY23.
To identify the shareholders entitled for this dividend, the company has fixed the record date on 16 January.
In the July to September quarter of the ongoing 2023-24 fiscal year, the cement maker's consolidated net profit increased nearly 42% year-on-year to Tk18.66 crore, thanks to a decrease in raw materials cost and foreign currency fluctuation loss. Its consolidated earnings per share stood at Tk2.27.
Its revenue also inched up 2.38% to Tk92.18 crore in the September quarter.
Consolidated net asset value per share increased to Tk72.17 while consolidated net operating cash flow per share stood at negative Tk2.84.
Established in 1991, Confidence Cement Limited went into commercial operations in 1994. It was listed on both stock exchanges in 1995.
The flagship company of Confidence Group is engaged in manufacturing cement, aggregates and ready-mix concrete. Its annual cement production capacity is 12 lakh tonnes.
The last trading price of the company's shares was Tk89 each on the Dhaka Stock Exchange.
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