Marico declares 300% interim cash dividend

Marico Bangladesh has declared a 300 percent interim cash dividend to its shareholders for the first quarter that ended on June 30 in the 2020-21 financial year.

The dividend payout was declared at a meeting of the company's board of directors on Wednesday evening. The record date is August 16.

"Among the multinational companies listed on the country's share market, Marico's profit has been increasing continuously," said a market analyst to The Business Standard.

However, an official of the company said Marico did not achieve its expected growth owing to the coronavirus pandemic.

The company's revenue increased by 10 percent to Tk301.17 crore, according to its first quarter unaudited financial statement.

Its net profit also increased by 17 percent to Tk99.66 crore.

At the beginning of this year, Marico Bangladesh invested Tk29.3 crore to expand the capacity of its factory in Gazipur and to set up a new manufacturing line.

Additionally, the company launched the Mediker SafeLife hand-wash and hand-sanitisers in mid-April to support the country in the fight against Covid-19. The company gained significant revenue from this product.

Marico Bangladesh currently has a portfolio of 24 brands in the personal care and food categories.

The company's paid up capital is Tk31.50 crore.

Out of total shares sponsors and directors jointly hold 90 percent, institutional investors 3.05 percent, foreign investors 5.74 percent and general investors hold only 1.21 percent shares.

The closing price of the company's each share was Tk1,599.50 at the Dhaka Stock Exchange on Thursday. Its highest share price was Tk1,899.50 within the last one year.

Marico Bangladesh was listed with the Dhaka Stock Exchange in 2009.