Marico approves 100pc final cash dividend

FE Desk Report | Published: July 20, 2018 10:17:20 | Updated: July 21, 2018 10:49:20

Chairman of the board of directors of Marico Bangladesh Limited Saugata Gupta presiding over the 18th AGM of the company at a city hotel recently

Marico Bangladesh Limited (MBL) has approved a final cash dividend of 100 per cent (equivalent to Tk. 10 per share) at its 18th annual general meeting (AGM) at a city hotel recently, according to a statement.

Saugata Gupta, Chairman of the board of directors of the MBL, presided over the meeting, which was attended by Managing Director of Marico Bangladesh Naveen Pandey, together with the members of the board of directors, Independent directors Rokia Afzal Rahman, Masud Khan (chair of the audit committee) Ashraful Hadi and directors Sanjay Mishra, and Vivek Karve along with other management officials of the company.

The final cash dividend was preceded by an interim cash dividend of 500 per cent (equivalent to Tk. 50 per share) declared and paid by the company for the first three quarters of the financial year - bringing the total cash dividend to 600 per cent (equivalent to Tk. 60 per share) for the year ended March 31, 2018.

A large number of shareholders attended the meeting wherein all proposed agenda were unanimously passed as per notice. The major activities of the AGM were: adoption of the Director's Report and Auditor's Report along with the Audited Financials of 2017-18, declaration of final dividend for the year ended March 31, 2018, re-election & appointment of the directors and appointment of independent auditors.

Speaking about the performance of the company, Saugata Gupta said that the company's net profit after tax stood at Tk 1.64 billion with a topline of Tk 7.81 billion. Consequently, the earnings per share (EPS) stood at Tk 52.15.

Mr. Gupta also updated the shareholders that in the last financial year, the company contributed Tk 2.28 billion to the National Exchequer in taxes, VAT and duties.

During the year, the company continued its Corporate Social Responsibility (CSR) initiatives in collaboration with Dhaka Ahsania Mission (DAM) to provide free, quality education to more than 3,000 underprivileged children in Jamalpur Upazila through running a community inclusive programme by building 75 CLCs (Children Learning Centres).

We have identified sustainability focus areas across the business with a particular emphasis on energy consumption & water management. In the last year, we have reduced overall energy consumption by 3.1 per cent, consumption of fossil fuel by 9.9 per cent and water consumption by 1,285 kilolitres at our manufacturing units.

He also informed the meeting that in 2017 "Parachute Advansed" won the award for Best Hair Oil Brand in Bangladesh and was also celebrated as one of the top ten brands in Bangladesh.

Additionally the Kantar Global Panel also listed Parachute as one of the top five FMCG brands in Bangladesh.

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