Business Report :
Berger Paints Bangladesh, the country’s leading coating producer, recommended a 500% cash dividend equivalent to Tk231.88 crore for the fiscal year 2022-23 ended on 31 March, which will be the highest ever payout to the shareholders.
The dividend declaration was made at a board meeting held on Saturday (27 July), according to company sources.
Khandker Abu Jafar Sadique, company secretary of Berger Paints, told The Business Standard, back in the 2016-17 financial year, it paid a total of 600% cash dividend.
At the time, however, the paid-up capital and number of shares of the company were less, so the amount of dividend was less as well.
Hence, the dividend for the financial year 2022-23 will be the highest payout in the company’s history in taka, the company secretary added.
To determine the eligible shareholders for the dividend, the company has set the record date on 18 August, and the final approval of the dividend will be secured at an annual general meeting (AGM) on 2 October.
In the last financial year, the consolidated net profit of Berger Paints increased by 7.72% to Tk324 crore compared to the previous financial year. Its earnings per share stood at Tk69.92, which was Tk64.91 a year ago.
