Confidence Cement posts 23% growth in EPS

Key Financials:

• Consolidated EPS was Tk8.3 in FY2019-20
• It was Tk6.76 in FY2018-2019
• Tk3.88 in Jul-Sep quarter of FY20
• Recommended 15% cash and 5% stock dividends
• Closing price was Tk126.30 per share on Monday at DSE

Notwithstanding the impact of the Covid-19 pandemic, publicly listed Confidence Cement Limited saw its earnings per share (EPS) rise by 23% year on year in FY20.

On the Dhaka Stock Exchange (DSE), the company on Monday announced that its consolidated earnings per share (EPS) stood at Tk8.30 in the 2019-20 financial year, which was Tk6.76 in the previous year.

The company's consolidated EPS also rose in the first quarter of the ongoing FY21. In the July- September quarter of this year, the company's EPS stood at Tk3.88, which was 55% higher than compared to the previous fiscal.

Even though the company's profit rose significantly, the board of directors has recommended a 20% dividend, including 15% cash and only 5% stock, for its shareholders.

In the previous year, shareholders got a 30% dividend, in which 15% was cash and 15% was stock dividend.

The company said bonus shares have been declared out of accumulated profit and its retained amount will be utilised as capital to continue investment to a 5.6MW captive power plant and factory premises.

Confidence Cement got listed with the stock exchanges in 1995. Now the company is placed under the 'A' category. As of November last year, the company's sponsor-directors hold 30.03% of its shares, while general shareholders have 51.60% and institutional investors 18.37% stake.

The company's share price closed at Tk126.30 each on Monday at the DSE.