Linde Bangladesh declares record 1540pc interim cash dividend

The board of directors of Linde Bangladesh has approved a 1540 per cent interim dividend cash dividend based on the audited interim financial statements of the company as of 31 October 2023.

That means investors will get Tk 154 per share as against the face value of Tk 10.

This is the highest cash dividend declaration since listing with the stock market in 1976. The record date is set on July 9 to avail the cash dividend.

In 2022, the company paid a 420 per cent cash dividend.

Following the news, its stock jumped more than 25 per cent or Tk 250 each to Tk 1235, after one and a half hours of trading at 12:30 pm.

However, the multinational company’s net profit plunged 66 per cent year-on-year to Tk 263 million in 10 months through October this year.

Profit decreased due to demerger of the welding business, lower sales and higher price of raw materials in international markets coupled with recent forex movement, said the company in a stock exchange filing on Thursday.

Last year, Linde Bangladesh demerged its hard goods business such as welding products and equipment to a wholly owned subsidiary company.

The company’s paid-up capital is Tk 152.18 million and authorised capital is Tk 200 million, while the total number of securities is 15.21 million.

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