Berger Paints declares 300pc interim cash dividend
FE REPORT | Monday, 31 January 2022
The board of directors of Berger Paints Bangladesh declared a 300 per cent interim cash dividend from the retained earnings reported in the audited financial statements as on March 31, 2021.
The record date for entitlement of interim cash dividend is set on February 17.
The company's consolidated net operating cash flow per share (NOCFPS) was Tk 25.89 for April-December 2021 as against Tk 44.55 for April-December 2020.
The net operating cash flow per share decreased from the same period of previous year mainly because of higher stocks maintained to ensure uninterrupted supply amidst pandemic situation as well as to cater forecasted sales in next quarter, said the company.
The consolidated net asset value (NAV) per share was Tk 238.45 as on December 31, 2021 and Tk 232.78 as on March 31, 2021.
Each share of the Berger Paints, which was listed on the DSE in 2006, closed at Tk 1,799.70 on Sunday, gaining 1.44 per cent over the previous day.
The multinational company disbursed 375 per cent cash dividend for the year ended on March 31, 2021.
Berger began its journey in Bangladesh in 1970 and has become one of the oldest and leading paint brands. Berger diversified its business and expanded, estimating a growth in infrastructure development in Bangladesh.
Meanwhile, Berger Paints Bangladesh witnessed a 10 per cent fall in its third quarter (Q3) earnings for October-December 2021 compared to the same quarter of the previous year due to higher raw material price in the international market.
In a filing with Dhaka Stock Exchange (DSE) Sunday, the company said its consolidated earnings per share (EPS) decreased to Tk 17.52 for October-December 2021, down by nearly 10 per cent, from Tk 19.45 in the corresponding period.
However, the county's leading paint maker's consolidated EPS for nine months until December 2021, stood at Tk 43.18, as against Tk 36.03 for April-December 2020.