Berger Paints Bangladesh has recommended a 375 per cent cash dividend for the year ended on March 31, 2021.
The multinational company has also decided to sign a distributor agreement with the Promat Fire and Insulation Private Ltd, a world-leading fire protective coating supplier, according to an official disclosure.
As per agreement, Berger Paints will be the exclusive importer and distributor of Promat fire protective coating in the country.
The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on October 6 at 10:00am using the digital platform. The record date is set on August 16.
The paint maker's net profit rose 11.16 per cent to Tk 2.69 billion for the year ended on March 31, 2021 compared to the previous year.
The company has also reported consolidated earnings per share (EPS) of Tk 58.03, consolidated net asset value (NAV) per share of Tk 232.78 and consolidated net operating cash flow per share (NOCFPS) of Tk 72.10 for the year ended on March 31, 2021 as against Tk 52.22, Tk 204.20 and Tk 81.90 respectively for the same period of the previous year.
EPS has increased due to strong growth in sales, favourable raw material prices and controlled expenses, said an official of the company.
In 2020, the company disbursed 295 per cent cash dividend.
There will be no price limit on the trading of the shares of the company on July 25 (Sunday) following its corporate declaration.
Each share of the company, which was listed on the Dhaka bourse in 2006, closed at Tk 1,874.30 on Monday, the last trading day before Eid holidays.
The company's shares traded between Tk 1,308.60 and Tk 1,980 in the last one year.
Its paid-up capital is Tk 463.78 million and authorised capital is Tk 1.0 billion while the total number of securities is 46.37 million.