Marico Bangladesh declares 200pc final cash dividend

The company declares total 900pc cash dividend

FE ONLINE REPORT | Wednesday, 28 April 2021

The board of directors of Marico Bangladesh has recommended a 200 per cent final cash dividend for the year ended on March 31, 2021.

Thus, the multinational company declared a total of 900 per cent cash dividend for the year ended on March 31, 2021, including the 700 per cent interim cash dividend, which has already been paid.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on July 26 at 10:00 am through the digital platform.

The record date is set for May 27, the company said in a filing with the Dhaka Stock Exchange (DSE) on Wednesday.

The company has also reported earnings per share (EPS) of Tk 98.69, net asset value (NAV) per share of Tk 51.95 and net operating cash flow per share (NOCFPS) of Tk 105.55 for the year ended on March 31, 2021, as against Tk 84.01, Tk 44.05 and Tk 95.65 respectively for the same period of the previous year.

In 2019, the bank disbursed a total of 950 per cent cash dividend.

There will be no price limit on the trading of the shares of the company today following its corporate declaration; however, as per the BSEC order dated March 19, 2020, the floor price shall be applicable accordingly.

Each share of the company, which was listed on the DSE in 2009, closed at Tk 2077.10 on Tuesday. Its shares traded between Tk 1,562.50 and Tk 2,472.20 in the last year.

Its paid-up capital is Tk 315 million and authorised capital is Tk 400 billion, while the total number of securities is 31.50 million.

The sponsor-directors own 90 per cent stake in the company while the institutional investors own 4.71 per cent, foreign investors 3.35 per cent and the general public 1.94 per cent as on March 31, 2021, the DSE data shows.

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