Eastern Lubricant's stock dividend credited into BO accounts
The stock dividend of state-owned Eastern Lubricant Blenders Limited has been credited into the beneficiary owners' (BO) accounts of the respective shareholders on 26 February 2023.
According to the Central Depository Bangladesh Limited, the shareholders are advised to check the updated balance with their respective depository participants (DP).
In the fiscal year 2021-22, the company recommended 40% cash and a 10% stock dividend for its shareholders.
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From October to December quarter 2022, the revenue of the company stood at Tk13.36 crore, which was Tk60 lakh in the same period of the previous year.
Consequently, its net profit was Tk75 lakh and its earnings per share was Tk6.26.
In the fiscal year 2021-22, its profit declined by 78% year-on-year owing to zero import of base oil for lower demand from its distributors – Padma Oil, Meghna Petroleum, and Jamuna Oil.
Eastern Lubricant usually imports about 3,000 tonnes of base oil every year on demand from the three state-owned distributors. However, it did not import oil in FY22 as the base oil prices were high in the global market.
