Sonali Paper recommends 40 per cent dividend

Sonali Paper & Board Mills has recommended 20 per cent cash and 20 per cent stock dividend for the year ended on June 30, 2021. In a disclosure, the company said its dividends are recommended out of the distributable profit for that period.One rights share will be issued against two existing shares at Tk. 10.00 each after considering 20 per cent stock dividend for the year ended on June 30, 2021 subject to the approval of the shareholders along with complying with relevant rules and regulations.The company has also reported EPS of Tk. 4.89, NAV per share of Tk. 284.33 and NOCFPS of Tk. 13.53 for the year ended on June 30, 2021 as against Tk. 1.46, Tk. 307.88 and Tk. 13.31 respectively for the same period of the previous year.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/sonali-paper-recommends-40-per-cent-dividend-1632071045

 Union Bank gets BSEC approval to go public

The Bangladesh Securities and Exchange Commission (BSEC) has approved the proposal of Union Bank Limited for issuance of IPO of BDT 4.28 billion under fixed price method, said a statement. It is the largest IPO in terms of size among the banks and the 4th highest in the capital market of Bangladesh. The Prime Bank Investment Limited (PBIL) is the manager to the issue of this IPO.PBIL is also the lead arranger of Al-Arafah Islami Bank Mudaraba perpetual bond of BDT 5.0 billion where BDT 4.50 billion will be raised under Private Placement and the rest BDT 500 million will be under public offer.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/union-bank-gets-bsec-approval-to-go-public-1632071060

Walton marks World Ozone Day

The Department of Environment (DoE) and Walton Hi-Tech Industries Limited jointly organised the seminar marking the ‘World Ozone Day-2021’ at Walton corporate office in the capital. The World Ozone Day is celebrated internationally on September 16 every year to raise awareness about depletion of ozone layer and the global warming. This year’s theme for the day was ‘Montreal Protocol — keeping us, our food, and vaccines cool.”The Montreal Protocol on Substances that Deplete the Ozone Layer was signed in 1987. Bangladesh is one of the signatories to the protocol. Under the protocol, the country is working towards controlling the use of about 100 ozone-depleting substances.

Source: https://today.thefinancialexpress.com.bd/trade-market/walton-marks-world-ozone-day-1632070480

VAT registration suspension looms on 1,400 Chattogram businesses

At least 1,400 business entities under the Chattala Division of the Chattogram Customs, Excise and VAT Commissionerate are going to face suspension of their VAT registration because of not filing returns despite receiving repeated notices from the authorities.The VAT registration or BIN (Business Identification Number) of the companies that do not file their returns within the next one month will be locked or suspended temporarily, he also said, pointing out that if VAT returns are submitted, there will be a scope to reopen their BIN numbers.The number of VAT-registered businesses under the Chattala division is 5,600. As of July, 75% of them filed VAT returns but about 1,400 companies did not. Till August 2021, the number of VAT registered businesses in the eight VAT commissionerate divisions was 31,649 and 75% of them filed VAT returns until July, according to the Chattogram VAT Commissionerate.A VAT return has to be filed every month. If a business does not submit the return of a previous month by the 15th of the current month, they are fined Tk10,000 per month. Online VAT returns have been made mandatory since the new VAT Act came into force in July 2019, according to the VAT Act.

Source: https://www.tbsnews.net/economy/vat-registration-suspension-looms-1400-ctg-businesses-304912