Square Pharmaceuticals to give 100pc cash dividend

Square Pharmaceuticals has recommended cent per cent cash dividend for the second time in its history with the country's bourses.
Its sales grew significantly in the year ending June 30, 2022 "due to the quality of the drugs [manufactured by Square] that encourages healthcare professionals to recommend them", said Md Zahangir Alam, chief financial officer at Square Pharmaceuticals.
Earlier in 2007, the company gave 50 per cent cash and 50 per cent stock dividends.
In terms of cash dividend only, this year's is the highest that investors will get.
Listed with the bourses in 1995, the blue chip company has reported a moderate growth in earnings per share.
For the year ending on June 30, the company has reported consolidated EPS of Tk 20.51, a 14 per cent year-on-year growth.
The standalone EPS stands at Tk 18.52 for the fiscal year 2021-22 up from Tk 16.63 in the previous year.
The company's 'cash only' policy helped the growth in the operating cash flow, said Mr Alam.
The company's consolidated net operating cash flow per share rose to Tk 14.52 this year from Tk 12.38 a year ago. The standalone NOCFPS was Tk 13.93 increased from Tk 12.27.
At a board meeting on Thursday, the company's board of directors approved Tk 3.0 billion for BMRE (Balancing, Modernisation, Rehabilitation and Expansion), capital machineries and land for future expansion.
The company's record date for availing the dividend is November 28 and the annual general meeting will be held on December 24.
Its share price on Thursday closed at Tk 209.80 with no movement on the Dhaka Stock Exchange.
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