Dhaka, Bangladesh (BBN)– The board of directors of the Peninsula Chittagong has recommended 5.0 percent cash dividend for the year ended on June 30, 2018, said an official disclosure.

The board has also decided to change in the mode of utilization of initial public offering (IPO) proceeds and its implementation schedule and amendment of Articles of association which is subject to the approval of the shareholders in the extraordinary general meeting (EGM).

The Board has decided to renovate and expand the hotel building and it will be completed within the six of months.
The cost of the said renovations and expansion outlets has been estimated to BDT 124.20 million that will be arranged from Company’s own source and bank/financial institution loan.

The date of EGM and annual general meeting (AGM) will be held on October 30. Time of EGM & AGM: 9:30am and 10:30am respectively, at Chittagong Club in Chittagong.

The record date for EGM & AGM is on October 01.

The company has also reported earnings per share (EPS) of BDT 0.62, net asset value (NAV) per share of BDT 30.81 and net operating cash flow per share (NOCFPS) of BDT 0.85 for the year ended on June 30, 2018 as against BDT 0.53, BDT 30.68 and BDT 0.74 respectively for the same period of the previous year.

There will be no price limit of the company’s share trading today following its dividend declaration.

Each share of the company, which was listed on the Dhaka bourse in 2014, closed at BDT 34.60 each on Thursday, losing 4.68 percent over the previous day.

The company disbursed also 5.0 per cent cash dividend for the year ended on June 30, 2017.

The company paid-up capital is BDT 1.18 billion and authorised capital is BDT 3.0 billion, while the total number of securities is 118.66 million.

The sponsor-directors own 39.04 percent stake in the bank while institutional investors own 19.36 percent, foreign 0.14 per cent and the general public 41.46 percent as on July 31, 2018, the DSE data shows.