The company’s board recommended the dividend following a strong improvement in earnings per share (EPS), according to its financial disclosures filed with the bourse.
TBS Report
25 October, 2026, 09:45 pm
Last modified: 25 October, 2026, 09:47 pm
CVO Petrochemical Refinery PLC's share price fell 6.22% to close at Tk150.90 on the Dhaka Stock Exchange today (25 October), despite reporting higher earnings and recommending a 15% cash dividend for the financial year ended 30 June 2026.
The company's board recommended the dividend following a strong improvement in earnings per share (EPS), according to its financial disclosures filed with the bourse.
EPS rose 41% to Tk4.93 in FY26, up from Tk3.50 in the previous fiscal year. Net asset value per share increased to Tk31.75 from Tk27.79, while net operating cash flow per share declined to Tk4.52 from Tk7.01.
CVO Petrochemical has scheduled its annual general meeting for 14 December to seek shareholders' approval for the dividend. The record date for determining eligible shareholders has been set for 17 November.
The company, listed on the stock market in 1990, trades in the 'A' category. It originally refined vegetable oil but shifted to petrochemical refining amid stiff competition from imported oil.
CVO Petrochemical suspended production for 14 months until September 2022 due to raw material quality issues. Operations resumed after the government allowed domestic refineries to source imported condensate.
The company later became the first domestic refinery to sign an agreement with the Bangladesh Petroleum Corporation to source naphtha from Eastern Refinery for producing solvents at its Chattogram plant.
Sponsor directors held 43.06% of the company's shares as of September 2026, while institutional investors held 17.40%, foreign investors 0.09%, and general shareholders 39.45%.