Aamra Technologies now approves 5% cash, 5% stock dividends
Instead of a 10% stock dividend, the company and its shareholders reached the decision in its AGM held on 28 December
Aamra Technologies, a provider of comprehensive IT solutions and services in the country, has changed its dividend pay-out model for FY21 by declaring 5% cash and 5% stock dividends.
Instead of a 10% stock dividend, the company and its shareholders reached the decision in its annual general meeting held on 28 December.
In October 2021, the company's board approved only a 10% stock dividend for its shareholders for FY21, which was subject to approval of the Bangladesh Securities and Exchange Commission (BSEC).
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In the fiscal 2019-20, the company, listed on stock exchanges in 2012, had paid a 10% cash dividend to its shareholders.
Recently, the BSEC in a circular said if any company declares a stock dividend, it needs to get approval from the securities regulator.
When it declared a stock dividend, the company said the board considered retaining the stock dividend amount as capital for utilising the amount in modernisation or infrastructure in line with technological advancement (under BMRE).
According to its annual declaration, the earnings per share (EPS) stood at Tk1.45, a slight decline from Tk1.46 in the previous fiscal year.
In the first quarter of the current fiscal year, the company's EPS increased by 36% to Tk0.53 from Tk0.39 over the same time of the previous fiscal year.
