Libra Infusions’ shares surge 15.51pc as company announces high dividends

Business Desk :
Libra Infusions witnessed an upswing in its stock prices till 10:36am on Sunday (22 October), surging by 15.51% or Tk214 per share to reach Tk1,560 each at the Dhaka Stock Exchange (DSE).

The surge in share prices came as a result of the company’s recent declaration of substantial dividends, eliminating any price limit for dividend distribution.

In a disclosure made on Sunday via stock exchanges, Libra Infusions announced a generous dividend distribution for the 2020-2021 fiscal year.

The manufacturer of intravenous fluids, widely known as IV Solution, has declared a 30% cash dividend for general shareholders and 50% stock dividends for both general and sponsor shareholders.

However, the stock dividend is contingent upon the approval of the Bangladesh Securities and Exchange Commission (BSEC).

In the fiscal year of 2022-23, Libra Infusions reported an earnings per share of Tk0.15, signifying a significant turnaround from the preceding fiscal year when it incurred a loss per share of Tk7.78.

The company is set to hold its annual general meeting (AGM) on November 30, which will take place through a digital platform, ensuring convenient participation for its shareholders.