Crown Cement chairman to gift 45 lakh shares to family members
On Tuesday (15 April), Crown Cement Vice Chairman Alamgir Kabir also decided to gift 59.70 lakh shares from his holdings in the company to family members
Jahangir Alam, chairman of Crown Cement — one of the country's leading cement manufacturers — has announced his decision to gift 45 lakh shares from his personal holdings to family members.
According to a disclosure published on the Dhaka Stock Exchange (DSE), he will transfer 15 lakh shares each to his spouse Masuma Begum, son Salehin Musfique Sadaf, and daughter Sadman Syka Sefa. All three recipients are already general shareholders of the company.
According to the shareholding report, the Crown Cement chairman holds 15.50%, or 2.30 crore, of the company's shares.
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On Tuesday (15 April), Crown Cement Vice Chairman Alamgir Kabir also decided to gift 59.70 lakh shares from his holdings in the company to family members,
According to his decision, Alamgir Kabir will transfer 29.70 lakh shares to his son Solaiman Kabir, 15 lakh shares to his wife Kamrun Nahar, and 5 lakh shares each to his daughter Raisa Kabir, son Raihanul Kabir, and daughter Nusaibah Kabir.
Market insiders view the share transfers as a strategic move to gradually involve family members in the business, potentially grooming them for future leadership roles as company directors.
In the second quarter of the current fiscal year, the company made net revenue of Tk803.55 crore, which was Tk711 crore in the same period of the previous fiscal year.
In this quarter, the company made a net profit of Tk18.85 crore, which was 48% lower than Tk36.23 crore compared to the same period of the previous year.
In the October-December quarter, its earnings per share were Tk1.27, which was Tk2.44 a year ago.
Its net asset value per share stood at Tk56.43 at the end of December 2024.
The company stated that its earnings per share decreased due to additional depreciation from new capacity expansion, interest charges on long-term loans taken for the expansion, an increase in electricity prices, and higher investments in advertising and manpower to grow market share.
The net operating cash flow per share, however, increased due to improved cash collection, the impact of non-cash expenses such as additional depreciation from the new sixth unit, and extended credit terms from suppliers.
The company recommended a 21% cash dividend for their shareholders for FY24.
As of March 2025, Crown Cement's shareholding structure stood at: sponsor-directors 65.33%, institutional investors 18.34%, foreign investors 0.05%, and general investors 16.28%.
