Lovello Ice-cream finally pays out due dividend

Business Report :
Taufika Foods and Lovello Ice-cream PLC, after a delay of over five months, has at last disbursed the dividend it had declared for the 2021-22 fiscal year to the shareholders’ bank accounts.
The listed firm in the food and allied sector of the stock exchanges had declared a 12% cash dividend for FY22.

As per rules, dividends should be disbursed within a month of securing shareholders’ approval at the annual general meeting (AGM).
Lovello’s shareholders had approved the dividend at the company’s AGM held on 20 December last year. Therefore, the dividend disbursement should have been completed within 20 January.
But the company failed to ensure timely disbursement of the FY22 dividend, which is a non-compliance with the listing regulations.