SS Steel declares 2% cash and 8% stock dividend

SS Steel Limited has declared a 2% cash dividend only for its general shareholders and 8% stock for all for the financial year 2021-22 that ended on 30 June.

The company said in its price sensitive statement filed at the Dhaka Stock Exchange (DSE), that the board of the company has decided to purchase a land at cost of Tk30 crore on purpose of constructing factory and installation capital machineries for business expansion. That is why it declared the stock dividend.

The company further informed that the declared dividend will be disbursed after getting approval from the Bangladesh Securities and Exchange Commission (BSEC). To approve the dividends and annual audited financial report the company will conduct the annual general meeting on 30 March.

SS Steel Limited also set the record date on 22 February to entitled the shareholders for the meeting and dividends.

During FY2022, its earnings per share was Tk1.87, which was 19% lower than the previous fiscal.

Despite no circuit breaker upper limit after declaring dividend its share price stuck on the floor price at Tk16.60 each at the DSE.