ISN, Kay & Que declare dividends after 5 years
Information Services Network (ISN) and the Kay & Que announced dividends after at least five years just as Dhaka Stock Exchange (DSE) was reviewing their eligibility to remain listed.
In August, the DSE decided to run reviews on 15 companies that did not pay any dividend in the last five years. If no potential for profitability is found, the DSE would delist them.
Since the companies declared dividends, the DSE will not be reviewing them, said KAM Majedur Rahman, managing director of the DSE.
Directors of the ISN decided to pay 1 percent cash and 4 percent stock dividend while Kay & Que will pay 5 percent cash dividend for the year ending on June 30, 2018.
In the 2017-18 financial year, the ISN posted earnings per share of Tk 0.48, which was Tk 0.52 in the negative a year ago.
In the previous three years, its EPS was Tk 0.63, Tk 0.70 and Tk 1.03 in the negative, according to the company's annual reports.
Until the third quarter of 2017-18, its earnings per share stood at Tk 0.05 in the negative, which soared to Tk 0.48 positive by the year's end.
The Kay & Que reported EPS of Tk 0.91 for the 2017-18 financial year, up from Tk 0.05 a year earlier. In the preceding year the company posted EPS of Tk 0.02 in the negative.
The company started out as a manufacturer of carbon rods for dry cell batteries and coal tar and later in 2008 diversified into the compressed natural gas business.
The demand for carbon rod and coal tar had fallen drastically for rapid technological changes, forcing the Kay & Que to shut down the two business units.
The Kay & Que has leased out part of its premises to CG Foods (BD) which is currently establishing a factory to manufacture Wai Wai brand noodles in Bangladesh.
