Walton declares 300pc cash dividend

Business Desk :
Walton Hi-Tech Industries PLC has declared a 300% cash dividend for its general shareholders for the fiscal year that ended on 30 June 2023.

Also, the company recommended a 90% cash dividend for its sponsors and directors.

According to Walton’s disclosure on Thursday, the company’s earnings per share declined 36% to Tk25.84 in FY23, compared to the previous fiscal year.

The company said in the disclosure that its earnings decreased because of an increase in its finance cost caused by a vulnerable global market situation and the devaluation of the taka against foreign currencies during FY23.

At the end of FY23, Walton’s net asset value per share stood at Tk343.73 with revaluation, and at Tk242.18 without.

Its net operating cash flow per share stood at Tk111.84, which was negative Tk7.91 in FY22.

To secure approval of the declared dividends, the company has scheduled an annual general meeting on 29 October this year on a digital platform.

The record has been fixed on 2 October.

On the Dhaka Stock Exchange, Walton’s shares closed at Tk1,047.7 each on Thursday.