Marico Bangladesh approves 200% final cash dividend
The dividend payout was declared at its 20th Annual General Meeting (AGM) virtually held on Wednesday
India-based multinational company Marico Bangladesh has approved a final cash dividend of 200 percent (equivalent to Tk20 per share) to its shareholders for the 2019-20 financial year.
Marico has already paid 750 percent cash dividend to its shareholders – bringing the total cash dividend to 950 percent (equivalent to Tk95 per share) for the year ended March 31, 2020, it added.
It means investors will get Tk95 against each of their shares for the fiscal year.
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The dividend payout was declared at its 20th Annual General Meeting (AGM) virtually held on Wednesday, reads a press release.
Saugata Gupta, chairman of the Board of Directors of Marico Bangladesh Limited, said the company's net profit after tax stood at Tk265 crores with a topline of TK980 crores. Consequently, the earnings per share (EPS) stood at Tk84.01.
Gupta, who presided over the meeting, also informed the shareholders that the company has contributed TK327 crores to the National Exchequer in taxes, VAT and duties in the last financial year.
The company, at the AGM, has also adopted the Director's Report and Auditor's Report along with the Audited Financials of 2019-2020.
It also approved re-election and appointment of the Directors and appointment of Statutory Auditors.
Ashish Goupal, managing director of Marico Bangladesh, Rokia Afzal Rahman and Masud Khan, members of the Board and Independent Directors, Ashraful Hadi, Chair of the Audit Committee and Directors Sanjay Mishra and Vivek Karve, other management officials of the company were present at the AGM.
A large number of shareholders attended virtually at the meeting.
As per its social responsibility initiatives, Marico continued its partnership with UNDP and the Bangladesh government for graduating 65,000 ultra-poor women from poverty by engaging them in sustainable livelihoods through SWAPNO program.
Additionally, Marico also launched Mediker SafeLife hand-wash and hand-sanitizers to support the country in the fight against Covid-19.
The company also committed the first six months' profit from the sale of these products to the Prime Minister's Relief Fund.
