Sonali Aansh allowed to pay 100% stock dividend

The securities regulator has allowed Sonali Aansh Industries, a publicly listed exporter of jute products, to pay a 100% stock dividend to its shareholders for the fiscal 2022-23.

The company will announce the record and annual general meeting dates soon, according to a disclosure on the Dhaka Stock Exchange (DSE) website on Tuesday.

Sonali Aansh had paid the same stock dividend for the fiscal 2021-22 as well.

The FY23 stock dividend has been declared from the company’s accumulated profit, Company Secretary Md Habibur Rahman told TBS earlier, adding that this dividend will be used to increase the firm’s paid-up capital.

In FY23, the company’s profit grew 97% year-on-year to Tk2.09 crore and its diluted earnings per share stood at Tk3.86.

Sonali Aansh’s board has decided to revalue all its properties and assets for determining its fair value properly and record it in the company’s books of accounts.

On Tuesday, its shares closed at Tk592 each on the DSE.

Source: The Business Standard
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