Emerald Oil declares no dividend for investors
Emerald Oil Industries Ltd - a rice bran edible oil producer – did not recommend any dividend for the financial years ended on 30 June 2017, 2018, and 19.
The board of directors made the decision in its meeting on Thursday.
Last year, the company incurred a loss of Tk1.14 per share. The company had made losses in the previous two years as well.
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The company will notify the record date, time and venue of the annual general meeting later.
Its net asset value per share stood at Tk20.57 negative.
The operation of the company was shut down due to severe irregularities in April 2017. After a hiatus of four years, Emerald Oil successfully returned to full-fledged production thanks to fresh investment, nearly a year of hard work by the reconstructed board, and the help of the stock market regulator.
The investment, which came from Minori Bangladesh, a subsidiary of Japanese farming company Minori Co Limited, brought hope among the shareholders, who are now hoping to get good returns from their investments.
