Marico declares record 1,000pc interim dividend

Marico Bangladesh has declared a record 1,000 per cent interim cash dividend based on audited financials for the three-month period ended June 30 this year.

The return on investment is highest even in consideration of yearly dividends paid by the multinational company since its listing in the stock market in 2009. The company paid only a 200 per cent cash dividend last year.

The record date for entitlement of the interim cash dividend is set on August 25, according to an official disclosure on Wednesday.

The multinational company’s revenue rose by 10 per cent year-on-year to Tk 4.36 billion in April-June this year, as per the audited financial statements.

Its net profit also grew by 30 per cent to nearly Tk 1.73 billion for April-June this year compared to the same quarter a year before, supported by higher sales and increased finance income.

Its net finance income climbed more than 8-fold year-on-year to Tk 277 million amid rising deposit interest rate.

The net operating cash flow per share (NOCFPS) of the company was 3.18 for April-June this year against Tk 51.08 for the same period last year due to higher settlement of outstanding liabilities.

The net asset value (NAV) per share was Tk 315.42 as on June this year and Tk 260.64 as on March 2024 due to higher retained earnings.

Following the news, its stock price surged by 3.32 per cent to Tk 2,283 after one and a half hours of trading at 11:30am.

[email protected]