Libra Infusions declares 5% cash dividend

Libra Infusions Limited, manufacturing intravenous fluids and parenteral drugs in Bangladesh, has declared a 5% cash dividend for its shareholders for the year ending 30 June 2019.

The board of directors of the company which provides products used for medical purposes involving surgical operations, loss of blood, weakness, and general hospitalisation, made the decision on Monday.

In 2018, Libra Infusions Limited recommended a 20% stock dividend for its shareholders.

The company will hold an annual general meeting (AGM) on 24 May this year to approve the dividend, an audited report, and other matters on the agenda.

The record date for the AGM has been set for 3 May.

At the end of 30 June 2019, Libra Infusions Limited posted earnings per share (EPS) of Tk1.05, and net profit stood at Tk15.77 lakh.

But the company has incurred a loss of Tk2.71 crore in the first nine months of the year.

Over the period, the revenue was Tk16.11 crore.

In April to June of 2019, Libra Infusions Limited recovered all losses and posted a profit of Tk15.77 lakh.

A question has been raised about how a loss making company made a profit, recovering its losses in such a short time.

Contacted, Libra Infusions Managing Director Dr Roushon Alam did not comment in this regard.

During the year, the net asset value of each share of Libra Infusions stood at Tk1,269.

Sponsors and directors jointly hold 34.43%, institutions 8.24%, and general investors 57.33% shares of Libra Infusions Limited, which got listed on the Dhaka Stock Exchange in 1994.

The last trading price of the company's share was Tk585 on Tuesday on the country's premier bourse.

Libra Infusions Limited was incorporated in 1976 and is headquartered in Dhaka.