BBS okays 20pc dividend for 2014-2015

The Board of Directors of BBS has recommended 20% stock dividend for the year ended on June 30, 2015. The Board has also decided to increase the Authorized Capital of the Company from Tk. 150.00 crore to Tk. 500.00 crore subject to the approval by the shareholders in EGM.

The Board has also decided to issue rights share @ 1R:2 at an issue price of Tk. 20.00 (including share premium of Tk. 10.00 per share) on paid up capital after considering bonus shares subject to the approval by the shareholders in the EGM and the Regulatory Authorities. The purpose of the Rights Issue would be business expansion through diversification of product line and for working capital and repayment of outstanding loan. Date of EGM & AGM: 15.10.2015, Time of AGM and EGM: 10:00 AM and 10:45 AM respectively, Venue: Trust Milonayaton, 545 Old Airport Road Tejgaon, Dhaka-1206. Record date for EGM & AGM: 20.09.2015.

Another record date for entitlement of the proposed rights shares to be notified later after obtaining approval from BSEC. The Company has also reported net profit of Tk. 245.97 million, EPS of Tk. 2.79, NAV per share of Tk. 14.78 and NOCFPS of Tk. 0.02 for the year ended on June 30, 2015 as against Tk. 226.68 million, Tk. 2.57, Tk. 14.90 and Tk. 1.57 respectively for the same period of the previous year.