CORPORATE BRIEFS

IPDC
The Board of Directors of Industrial Promotion and Development Company recommended 10 percent stock dividend (i.e. one bonus share for every ten ordinary shares) for the year 2009. The company's annual general meeting will be held at 10 am on May 30 at Trust Milonayaton in Dhaka. The record date is April 25. The company has also reported profit of Tk 110.74 million, earnings per share of Tk 14.13, net asset value per share of Tk 235.49 and net operating cash flow per share of Tk 2.78 as of December 31, 2009.
HEIDELBERG CEMENT
The company's Board of Directors recommended 38 percent cash dividend for the year 2009. The annual general meeting of the company will be held on June 3, while the time and venue will be notified later. The record date is April 29. The company has also reported profit of Tk 850.88 million with earnings per share of Tk 151, net asset value per share of Tk 703 and net operating cash flow per share of Tk 369.67 as of December 31, 2009. The board has also decided to raise cement grinding capacity of the company's plant at Chittagong for further 768,000 tones a year in addition to the existing capacity of 750,000 tonnes. The total project cost is estimated at Tk 126 crore and will be financed from the company's own source. It is expected to go into operation by the end of 2011.
EASTERN BANK
The bank credited the stock dividend for 2009 to the respective shareholders' BO accounts on April 12.
SOUTH EAST BANK
The bank credited the stock dividend for the year 2009 to the respective shareholders' BO Accounts yesterday.
CITY BANK
Trading of the bank shares will remain suspended on April 18, the record date for its annual general meeting and extraordinary general meeting. On receipt of SEC nod, the next record date for the entitlement of the proposed rights share will be notified.
PIONEER INS
The company's share trade will be allowed only in the spot market and block/odd lot transactions will also be settled as per spot settlement cycle from April 18 to April 20. Trading of the shares will remain suspended on April 21, the record date. The next record date for entitlement of the proposed rights share will be notified after obtaining the SEC approval.
UNION CAPITAL LIMITED
M Abu Taher, one of the company's sponsor directors, has intended to sell 130,000 shares out of his total holding of 15,08,513 shares of the company at the prevailing market price through the stock exchanges in the next 30 working days.
MERCANTILE BANK LTD
M Amanullah, one of the bank's sponsor directors, has intended to sell 50,000 shares out of his total holding of 15,86,000 shares (in the block market) of the bank at the prevailing market price through stock exchanges in the next 30 working days.