Bangladesh Submarine Cable, a state-owned telecom company listed in the capital market, will give a 51 percent cash dividend to shareholders in the recently concluded financial year. This decision regarding dividends was taken after reviewing and approving the audited financial report of the last financial year in the meeting of the board of directors of the company.

Shareholders will get 5 taka 10 paisa in cash against each share as dividends declared for the year ended 30 June 2023 in the board meeting of the company on Monday (August 28). This is the company’s highest dividend since its IPO. However, the company made only one-third of the declared dividend.

This information was released from the Dhaka Stock Exchange (DSE) on Tuesday based on the information provided by the company’s authorities.

The Annual General Meeting (AGM) is scheduled to be held on October 12 for approval by the shareholders of the company’s board of directors regarding the dividend. And the record date has been fixed on 20 September.

The company posted an Earnings per Share (EPS) of Tk. 15.19 paisa for the financial year ended. Based on this profit, the company has decided to pay a dividend of 5 taka 10 paisa per share. The meeting will be held on the digital platform. Meanwhile, assets per share (NAVPS) stood at 85 takas 5 paisa.

DSE said there will be no circuit breaker for the company’s share price to rise today due to the dividend announcement. That is, the share price can increase as much as it likes. However, the share price cannot fall below the floor price.

Earlier, the company paid a 46 percent cash dividend to investors in the year ended June 30, 2022. Then the income per share was 13 taka 67 paisa. Before that, the company gave cash dividends of 37 percent in 2021, 20 percent in 2020, 16 percent in 2019, and 5 percent in 2018.

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