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The Financial Express

Marico BD declares 300pc interim cash dividend

The company’s net profit jumps 16.8pc in Apr-Jun


| Updated: August 05, 2020 16:28:17


Picture used for representational purpose - Collected Picture used for representational purpose - Collected

The board of directors of Marico Bangladesh Ltd has declared first interim dividend of 300 per cent cash for the three months financials that ended on June 30, 2020.

The board of directors of the company in a virtual meeting on Wednesday approved the audited financial statements for a three-month period that ended on June 30, 2020.

The record date for entitlement of interim cash dividend is August 16, 2020.

The multinational company’s revenue stood at Tk 3.01 billion for April-June, 2020 which was Tk 2.74 billion in the same quarter in 2019.

The net profit after tax of the company stood at Tk 991.65 million for April-June, 2020 as against Tk 848.79 million in the same quarter in the previous year, registering an increase of 16.83 per cent.

The earnings per share (EPS) of the company stood at Tk 31.64 for April-June 2020 which was Tk 26.95 in the same period a year ago.

The net operating cash flow per share (NOCFPS) was Tk 33.74 for April-June 2020 as against Tk 36.55 for April-June 2019.

The net asset value (NAV) per share was Tk 75.53 as on June 30, 2020.

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 multinational company, which was listed on the Dhaka bourse in 2009, closed at Tk 1,562.50 on Wednesday.

The company approved a total 950 per cent cash dividend for the year ended on March 31, 2020.

In 2019, it disbursed a total 650 per cent cash dividend.

The company’s paid-up capital is Tk 315 million, authorised capital is Tk 400 million and the total number of securities is 31.50 million.

The sponsor-directors own 90 per cent stake in the company, while institutional investors own 3.05 per cent, foreign investors 5.74 per cent and the general public only 1.21 per cent as on February 29, 2020.

Marico, a fast-moving consumer goods multinational company, also witnessed a steady growth in revenue earnings and dividend payout, among others, in the last few years through ‘quality products’.

The Marico Bangladesh, the first subsidiary of Marico Ltd, has also maintained its position as the most profitable unit of Marico’s international business, according to its latest annual report.

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