Metro Spinning declares 25pc bonus shares

Metro Spinning Ltd has declared stock dividends for fiscal 2008-09 at its 53rd meeting of the board of directors on Thursday, the company said in a statement.
The company recommended 25 percent bonus shares or 125 shares for every 500 shares to shareholders.
The audited accounts for fiscal 2008-09 were also approved on the occasion.
The company achieved turnover of Tk 50.95 crore, profit before tax of Tk 2.65 crore while net profit stood at Tk 2.60 crore.
Earnings per share rose to Tk 3.77 from Tk 2.59 last year. Total fixed asset, at the end of the year, is Tk 84.58 crore and net asset value per share is Tk 79.57 for fiscal 2008-09.
The board members decided to hold its 54th board meeting on December 9 to discuss the expansion plan of a new unit and fund utilisation raised through right issue.
Chairman of Metro Spinning Abdul Ali chaired the meeting where Managing Director Mohammad Ali Khokon was also present.