LafargeHolcim declares 18pc interim dividend as strong growth momentum continues
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LafargeHolcim Bangladesh declared an interim cash dividend at 18 per cent for the ten months period ended on October 31, 2022.
The declaration came at a meeting of the board of directors of the company held on Tuesday, according to a press release issued on Tuesday.
The multinational cement manufacturer also disbursed 15 per cent interim cash dividend for the first half of this calendar year until June 2022.
The company's earnings in the last 10 months have been exceptional and the decision is to support shareholders' expectations of receiving a higher return in a year of good income.
The company remains focused on continuing its strong growth through innovative and sustainable solutions for its customers.
Meanwhile, the multinational cement maker posted a 24 per cent revenue growth and 21 per cent growth in net profit year-on-year in July-September quarter of 2022 riding on innovation, new products and new distribution channels.
“The success of the last quarter entirely comes from the strong topline growth. Our new products and new business channels gained traction,” said Rajesh Kumar Surana, chief executive officer of LafargeHolcim Bangladesh.
The innovation in digital and the development of new business segments contributed strongly to the topline growth, said Mr Surana.
LafargeHolcim Bangladesh has a unique edge of depending on its own sources of its core raw material limestone from the mines in Meghalaya, India that comes to its Chhatak in Sunamganj factory through a conveyor belt.
This edge offers the company to avert freight charges and international raw material market volatility, while the profitability of its competitors mostly depends on these factors.
Its cement plant in Chattak is the only fully integrated plant in Bangladesh where clinker and cement of high premium quality are produced.
LafargeHolcim also started the aggregates business and production in its Chhatak Plant from January 2021.
Listed in 2003, its share closed near the floor at Tk 64.80 on Tuesday.