Beacon Pharma declares 20pc cash dividend

Beacon Pharmaceuticals' profit grew by 2.4 per cent year-on-year to Tk 522 million in FY24, overcoming macroeconomic challenges.

The drug maker’s net profit was Tk 510 million in FY23.

Accordingly, the company’s earnings per share (EPS) rose to Tk 2.26 in FY24, up from Tk 2.21 the year before, according to price-sensitive information published on Sunday.

Based on the profit growth, the board of directors declared a 20 per cent cash dividend for general shareholders and a 10 per cent cash dividend for sponsor-directors.

However, the net operating cash flow per share (NOCFPS), a measure of a company’s ability to generate cash from its operations, turned negative at Tk 0.78 per share in FY24, compared to a positive Tk 2.69 in the previous year.

The net asset value (NAV) with revaluation, referring to the excess of total assets over total liabilities, reached Tk 26.37 per share, up from Tk 25.72 in June last year.

The company has scheduled its annual general meeting for December 23, with the record date for entitlement to the dividend set for October 27.

Beacon Pharma’s stock price dropped by 1.2 per cent, closing at Tk 133 on Sunday at the Dhaka Stock Exchange.

Listed in 2010, Beacon Pharma’s current paid-up capital stands at Tk 2.31 billion, with a total of 231 million shares in circulation.