Western Marine approves 1% cash dividend
Earlier in mid-November, the board of directors of the company recommended no dividend for shareholders
Listed company Western Marine Shipyard has finally approved a 1% cash dividend for its shareholders for fiscal 2021-21.
The approval came at the annual general meeting held on 23 December 2021.
Earlier in mid-November, the board of directors of the company recommended no dividend for the fiscal.
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The shipbuilder fell into losses in FY21 for the first time since listing on bourses in 2014, due to internal conflicts among directors, mismanagement, short-term high-interest loans and investment in long-term projects, according to its annual declaration.
Its loss per share stood at Tk0.04 in FY2020-21. The earning per share of the company was Tk0.86 in the previous fiscal (FY2019-20), and it paid 0.5% cash and 2.5% stock dividends to its shareholders. In total, the company's profit in that year was Tk19.80 crore.
As of November 2021, sponsors and directors held 30.01% of the total share, while the institutional investors held 24.75%, and the general public investors 45.24%.
