Why HeidelbergCement share price jumped 21% in two days?
Stocks
The share prices of Heidelberg Cement Bangladesh Limited price jumped over 21% in just two days at the Dhaka Stock Exchange (DSE).
The company's shares were stuck on the floor price from November last to April this year. However, it rose by 21% or Tk37.6 to Tk216.70 during the last two days till Tuesday (25 April).
There are rumours in the stock market that the multinational cement company may pay a stock dividend this time. Because of this, there were many buyers of its shares but no sellers. Therefore, the company's shares were halted throughout the day on Tuesday, according to market insiders.
However, the company has not yet paid any stock dividends to investors.
Heidelberg Cement Bangladesh called a board meeting on 27 April at 2.45pm to decide the dividend for 2022. It will also publish the financial report for the first quarter of 2023 in the meeting.
The multinational company incurred a loss in the first three quarters of 2022 due to higher cost of raw materials, higher freight cost, Taka devaluation against the US Dollar, scheduled plant repairs and maintenance costs.
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