The share prices of Far East Knitting and Dyeing Industries have enjoyed a 34.64% single-day jump following the declaration of a 10% cash dividend for its shareholders.
On Sunday, shares opened at Tk19.20 and closed at Tk24.10.
The company manufactures readymade garments for export to international markets.
With transactions of Tk41.62 crore, the share volume was 1.92 crore on Sunday.
The company was on the top ten list of the Dhaka Stock Exchange.
Far East Knitting will hold its annual general meeting (AGM) on 23 December 2021 to approve the declared dividend, an audited report, and other matters. The record date has been set for 11 November.
According to its financial report, in fiscal 2020-2021, the company's net profit was Tk17.28 crore, which was only Tk7 crore the previous year.
Earnings per share increased 146.88% to Tk0.79, and the net asset value per share stood at Tk19.48.
The company recommended a 3% cash and 2% stock dividend for fiscal year ended 30 June 2020.
Sponsors and directors jointly hold a 67.20% stake in the company, institutional investors 11.40%, and general investors 21.40%.