It is a broadly described annual report of National Tea Company Limited in the year of 2016. The company’s Gross Profit for the year Taka. 96,506,924 and Net Profit Before Tax Taka. 4,668,862. Revenue from the sale of tea has been recognized when the auction of sale is completed and in case of rubber, after receiving sale proceeds and upon delivery of rubber. 3,000,000 Ordinary shares of Tk.10 each fully paid up in cash 3,600,000 Bonus share of Tk.10 each.
Investment in shares of Bangladesh Aroma Tea Limited represents 20,066 ordinary shares, the face value of which is Tk. 100 each (last quoted price of DSE was Tk.45 each on 31.12.1995). No dividend has been received against these shares since the date of investment. This company has been delisted by Dhaka Stock Exchange Limited in 1997. Investment in shares of Chittagong Warehouse Ltd. held by Lackatoorah Tea Estate could not be transferred in the name of NTCL since the share certificates are not traceable. The amount is considered irrecoverable and accordingly, provision has been made for an amount of Tk.7,580 in 2005.
The Board of Directors has recommended 30 % cash dividend @ Tk. 3.00 per share of Tk.10 each for the period from 1 January 2015 to 30 June 2016. The dividend for the year 2014 was paid @ Tk.2.00 per share.
More annual report of National Tea Company Limited:
