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The board of directors of Unilever Consumer Care, a subsidiary of Unilever Group, has recommended a 520 per cent cash dividend for the year ended December 31, 2024, despite lower profit.
The multinational company’s earnings per share (EPS) stood at Tk 34.62 for 2024, down from Tk 49.89 in the previous year, according to a disclosure on Wednesday.
The company has set its annual general meeting for May 15 to approve the proposed dividend and review the audited financial statements for 2024. The record date for eligibility to receive the dividend has been set for April 6.
It explained that the EPS has decreased in line with the decline in revenue, a lower one-off benefit from the reassessment of past liabilities and obligations, and the reimposition of technology and trademark royalty by the parent company from Q3 '24 onwards.
The increase in expenses was partially mitigated through operating efficiency as well as efficient investment of cash, resulting in higher net finance income.
The net asset value (NAV) per share stood at Tk 126.83, and the net operating cash flow per share (NOCFPS) at Tk 25.62 for the year ended December 31, 2024, compared to Tk 122.21 and Tk 25.43, respectively, for the year ended December 31, 2023.
Although profit has declined, the company has managed to deliver a marginal positive movement in net operating cash flow per share compared to the NOCFPS of the previous year.
The increase in NAV per share is mostly attributed to the increase in cash and cash equivalents and short-term investments.
In 2023, the company paid a 300 per cent cash dividend.
There will be no price limit on the trading of the company’s shares today (Wednesday) following its corporate declaration.
Following the news, its stock rose 0.61 per cent after 40 minutes of trading to Tk 2,529.9 at the Dhaka Stock Exchange.
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