Renata approves 50pc cash, 20pc stock dividends
FE Report | Tuesday, 3 June 2008
The 35th annual general meeting (AGM) of Renata Limited approved cash dividend of 50 per cent and stock dividend of 20 per cent (one bonus share for five ordinary shares) for the year 2007.
Renata Chairman SH Kabir presided over the AGM held in the city Saturday.
The meeting was attended by the company's CEO-cum-Managing Director Syed S Kaiser Kabir, directors Sarwar Ali, Sajida Humayun Kabir, Md Ziaul Haque Khondker, A Hasant Khan, Manzoor Hasan, Company Secretary Md Shafiul Alam, senior executives of the company and a large number of shareholders.
The meeting was informed that in the year 2007, pharmaceutical industry witnessed a disinformation campaign about high drug prices and poor quality of medicines, which forced the industry to shift its focus from exploring and building for long-term growth to merely fighting for survival.
Notwithstanding, Renata's market rank improved from 8th to 7th position in 2007, and its sale grew by 35.9 per cent in the pharmaceutical business.
In the animal health business segment, Renata continues to hold on to market leadership registering 23.3 per cent sales growth.
This success in an unfavourable business climate was largely achieved by making inroads into the market shares of the competitors through very aggressive sales and marketing policy.
CEO-cum-MD Kaiser Kabir Informed the meeting that Renata's Potent Product Facility was accredited by the Medicines And Healthcare Products Regulatory Agency (MHPA) of the UK, the first potent facility in Bangladesh to receive such recognition.
Renata's new Cephalosporin facility, on the Rajendrapur site is currently at the commissioning and validation stage. Its commercial production is expected to begin in the third quarter of 2008. Also on the Rajendrapur site, commissioning of a new Penicillin facility is expected by Q1 2009.
Renata Chairman SH Kabir presided over the AGM held in the city Saturday.
The meeting was attended by the company's CEO-cum-Managing Director Syed S Kaiser Kabir, directors Sarwar Ali, Sajida Humayun Kabir, Md Ziaul Haque Khondker, A Hasant Khan, Manzoor Hasan, Company Secretary Md Shafiul Alam, senior executives of the company and a large number of shareholders.
The meeting was informed that in the year 2007, pharmaceutical industry witnessed a disinformation campaign about high drug prices and poor quality of medicines, which forced the industry to shift its focus from exploring and building for long-term growth to merely fighting for survival.
Notwithstanding, Renata's market rank improved from 8th to 7th position in 2007, and its sale grew by 35.9 per cent in the pharmaceutical business.
In the animal health business segment, Renata continues to hold on to market leadership registering 23.3 per cent sales growth.
This success in an unfavourable business climate was largely achieved by making inroads into the market shares of the competitors through very aggressive sales and marketing policy.
CEO-cum-MD Kaiser Kabir Informed the meeting that Renata's Potent Product Facility was accredited by the Medicines And Healthcare Products Regulatory Agency (MHPA) of the UK, the first potent facility in Bangladesh to receive such recognition.
Renata's new Cephalosporin facility, on the Rajendrapur site is currently at the commissioning and validation stage. Its commercial production is expected to begin in the third quarter of 2008. Also on the Rajendrapur site, commissioning of a new Penicillin facility is expected by Q1 2009.