SS Steel’s performance not sufficient

Mohammad Tarequzzaman

SS Steel Limited is going to below standard performance day by day. General shareholders are not pleased with the company’s performance.

Meanwhile, the company’s category has declined. According to the Dhaka Stock Exchange (DSE) sources, SS Steel has been placed in ‘B’ category from existing ‘A’ category with effect today, 6 April. The company has disbursed two percent cash dividend to the respective shareholders for the year ended June 30, 2021. This said dividend is not sufficient to general shareholders. The company’s last closing price was Tk 19. Last 52 weeks the company’s share price was Tk 15.30 to 28.60.

The Company has informed that the 2 percent cash dividend for General Shareholders other than Sponsors and Directors. And 8 percent stock dividend for all shareholders proposed by the Board of directors of S. S. Steel Limited were approved by the shareholders in the Annual General Meeting-2021.Accordingly, an application was made by the Company to the Commission and Bangladesh Securities and Exchange Commission has canceled the said 8 percent stock dividend for the year ended June 30, 2021. DSE sources said, At present the company’s closing price Tk five hundred crore and paid up capital is above Tk three hundred crore. And total no. of outstanding securities of the company above 30 crore; in which 31.79 percent of Sponsor Directors, Institutions 11.02 percent and public share 57.19 percent.