Marico approves final 50pc cash dividend

Marico Bangladesh Limited (MBL), a leading FMCG company in the beauty and wellness sector, held its 14th Annual General Meeting (AGM) Tuesday at Radisson Water Garden Hotel.
During the AGM, a final cash dividend of 50 percent (equivalent to Tk. 5 per share) was confirmed and approved. This was preceded by interim cash dividends of 150 percent, 200 percent and 500 percent declared and paid by the company - bringing the total cash dividend to 900 percent for the year ended March 31, 2014.
Mr. Saugata Gupta, CEO of Marico Limited, presided over the meeting, which was attended by Mr. B Sridhar, Business Head of Marico's International Markets, and Mr. Aditya Shome, Managing Director of Marico Bangladesh. In addition, independent directors Mr. Ghulam Mostafa and Mrs. Rupali Chowdhury - along with other management officials - were also present. A large number of shareholders attended the meeting wherein all proposed agendas were unanimously passed as per notice.
The company's net profit after tax jumped by 60 percent to Tk. 1.39 billion in the backdrop of steady turnover growth of 5 percent and efficient cost management. Consequently, the earnings per share (EPS) increased from Tk. 27.53 in FY2012-13 to Tk. 43.99 in FY2013-14.
During the year, the company's flagship brand "Parachute" has maintained its leadership position in the branded hair oil segment. Other well-known brands of the company - such as Parachute Advansed, Parachute Beliphool, Saffola, Hair Code, Hair Code Keshkala, Livon, SetWet and Nihar - have also shown stellar performance. At present, one out of every two Bangladeshis is a Marico consumer. In the last financial year, the company has paid about Tk. 144 crore to the national exchequer in taxes, VAT and duties.