FE Today Logo

Marico Bangladesh holds 20th AGM

July 23, 2020 00:00:00

The 20th Annual General Meeting (AGM) of Marico Bangladesh Limited (MBL) was held virtually on Wednesday, said a statement.

Saugata Gupta, Chairman of the board of directors of Marico Bangladesh Limited, presided over the meeting.

Managing Director of Marico Bangladesh Ashish Goupal, together with the members of the board, independent directors Rokia Afzal Rahman, Masud Khan (Chair of the Audit Committee) Ashraful Hadi and Directors Sanjay Mishra, and Vivek Karve along with other management officials of the company were present at the AGM.

A large number of shareholders attended virtually at the meeting wherein all proposed agenda were unanimously passed as per notice. The major agenda of the AGM were: adoption of the Director's Report and Auditor's Report along with the Audited Financials of 2019-2020, declaration of Final Dividend for the year ended March 31, 2020, re-election and appointment of the directors and appointment of Statutory Auditors.

During the AGM, a final cash dividend of 200 per cent (equivalent to Tk. 20 per share) was confirmed and approved. This was preceded by three interim cash dividend of 750 per cent (equivalent to Tk. 75 per share) declared and paid by the company quarterly in this financial year - bringing the total cash dividend to 950 percent (equivalent to Tk. 95 per share) for the year ended March 31, 2020.

Speaking about the performance of the company, Saugata Gupta said that the Company's net profit after tax stood at Tk 2.65 billion with a topline of Tk 9.80 billion. Consequently, the earnings per share (EPS) stood at Tk 84.01.

Mr. Gupta also updated the shareholders that in the last financial year, the company has contributed Tk 3.27 billion to the National Exchequer in taxes, VAT and duties.

Share if you like