Two multinational listed companies --- Linde Bangladesh and Reckitt Benckiser -have reported moderate growth in profits year-on-year in 2021 due to lower operating cost and reduction of corporate tax rates.
The net profit of Linde Bangladesh, an oxygen supplier, stood at nearly Tk 1.23 billion for the year 2021, which was Tk 1.07 billion in the same period of the previous year.
The company has reported a 14.17 per cent rise in its earnings per share (EPS) to Tk 80.55 for the year 2021, from Tk 70.55 in the previous year, according to a filing with the Dhaka Stock Exchange (DSE) on Sunday.
The EPS has increased due to rise of net profit, net operating income and decrease of corporate tax rate compared to the previous year, said an official of the company, requesting anonymity.
The board of directors of Linde Bangladesh has recommended a 550 per cent cash dividend for the year ended December 31, 2021.
This is the highest dividend declaration of the company since listing with the Dhaka bourse in 1976. The company paid a 400 per cent cash dividend in 2020. In 2019, it disbursed a 500 per cent cash dividend.
The annual general meeting will be held on May 12 at 11:00am on the digital platform. The record date is set on March 31.
The company has also reported net asset value (NAV) per share of Tk 395.55 and net operating cash flow per share (NOCFPS) of Tk 80.34 for the year ended December 31, 2021 as against Tk 355.75 and Tk 77.70 respectively for the same period of the previous year.
Each share of the company closed at Tk 1,551.70 on Sunday, losing 1.98 per cent despite the higher profit and record dividend news.
Meanwhile, Reckitt Benckiser, a UK-based hygiene products manufacturer, saw a 9.37 per cent growth in its earnings per share in 2021 due to lower operating cost and reduction of corporate tax rates.
In a filing with DSE Sunday, the company said its EPS increased to Tk 171.03 for the year ended on December 31, 2021, from Tk 156.38 in the corresponding period.
The multinational company's net profit stood at Tk 808.12 million for the year ended on December 31, 2021, as against Tk 738.90 million in the same period of the previous year.
Accordingly, Reckitt Benckiser has declared a record 1650 per cent cash dividend for the year 2021 as the company earned record profit, thanks to the boom in disinfectant business due to the pandemic.
This is the highest-ever cash dividend declaration of the company since listing with DSE in 1987, as well as any individual company in the country's capital market history so far, according to DSE.
The company paid 1400 per cent cash dividend in 2020, 1250 per cent cash in 2019, 700 per cent cash in 2018, 790 per cent cash in 2017, 775 per cent cash in 2016, and 650 per cent cash dividend in 2015, the DSE data showed.
Despite the record dividend news, the company's share price fell by 1.66 per cent to close at Tk 5,372.20 on Sunday.
The annual general meeting will be held on April 27 at 11:30am on the digital platform. The record date is set on April 3.
Reckitt Benckiser has also reported NAV per share of Tk 200.65 and NOCFPS of Tk 134.90 for the year ended December 31, 2021 as against Tk 170.95 and Tk 290.57 respectively for the same period of the previous year.
A company official said net profit rose in 2021 due to strong revenue growth driven by increased demand for personal hygiene products like Dettol, Dettol soap, Harpic and Lysol during the pandemic.
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