Walton director to gift Tk600cr shares to daughter, wife
Currently, Rezaul holds 2.59 crore Walton shares, accounting for 8.58% of the company’s total shares.
SM Rezaul Alam, a sponsor director of Walton Hi-Tech Industries, has announced his plan to transfer 1.21 crore Walton shares, valued at Tk600 crore, to his daughter and wife.
He made the announcement through the Dhaka Stock Exchange on Wednesday (22 January).
As per his declaration, Rezaul will gift 60.60 lakh Walton shares each to his daughter, Roshmi Ruhi, and wife, Fahima Husna.
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The transfer, conducted outside the stock exchange's trading system, is expected to be completed within 30 working days from 20 January.
This marks the second instance in recent months of Rezaul transferring shares to his family members.
Earlier in December, he made a similar gift of shares to his daughter and spouse.
Currently, Rezaul holds 2.59 crore Walton shares, accounting for 8.58% of the company's total shares.
On Wednesday, Walton shares closed at Tk503.80 on the Dhaka Stock Exchange, reflecting a 1.27% decline from the previous session.
This move is part of a broader plan by Walton's leadership to gradually transfer ownership to the next generation, according to the company's officials.
Earlier, five other sponsor directors of Walton had transferred significant amounts of shares to their family members between September to December.
Out of which, SM Mahbubul Alam transferred 2.05 crore shares, SM Ashraful Alam 1.51 crore shares, SM Nurul Alam Rezvi 90 lakh shares, SM Shamsul Alam 3.64 crore shares and SM Monjurul Alam 1.20 crore shares to their family members.
As a result of these transfers, the sponsors-directors' combined holding in Walton has declined from 98.51% in June 2024 to 69.07% in December 2024, according to the company's shareholding report.
Walton Hi-Tech Industries continues to demonstrate robust financial growth. In the fiscal year 2023-24, the company reported a profit of Tk1,356 crore, marking an increase of Tk573.85 crore from the previous fiscal year.
The company also rewarded shareholders handsomely, with the board of directors approving a 200% cash dividend for sponsor-directors' and a 350% dividend for general shareholders.
