Far East Knitting declares 10% cash
The company will approve the declared dividend at its AGM on 23 December 2021
Far East Knitting & Dyeing Industries Limited has declared a 10% cash dividend for its shareholders for the year ending 30 June 2021.
The dividend was declared at a company board meeting on Thursday.
The company operates a readymade composite knit industrial unit of international standards, for the knitting, dyeing, designing, manufacturing and marketing of readymade garments, to sell in foreign markets.
The company will have its annual general meeting (AGM) on 23 December 2021 to approve the declared dividend, an audited report, and other matters. The record date will be 11 November.
According to their financial report 2021, company net profit was Tk17.28 crore, which was Tk7 crore in the previous year.
During the period, its earnings per share stood at Tk0.79 and net asset value per share at Tk19.48.
The company recommended a 3% cash and 2% stock dividend for the year ended June 30, 2020.
Sponsors and directors jointly hold a 67.20% stake in the company, institutional investors 11.40%, and general investors 21.40%.
The last share price of the company on the Chittagong Stock Exchange (CSE) was Tk17.90 on Thursday.