FE Today Logo

Walton declares 250pc cash dividend for general shareholders

The company to purchase land worth Tk 1.72b for Iconic Tower


FE REPORT | August 12, 2021 00:00:00


Walton Hi-Tech Industries, the local electrical giant, has recommended a 250 per cent cash dividend for its shareholders and 170 per cent cash dividend for directors and sponsors for the year ended on June 30, 2021.

The board has also approved for purchasing land measuring more or less 236.3625 decimals at a cost of nearly Tk 1.72 billion at Bashundhara, Vatara. The land will be used for Iconic Tower of Walton Corporate Office, said the company in a filing with the Dhaka Stock Exchange (DSE) on Wednesday.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on September 29 at 12:00 noon using the digital platform. The record date is set on September 5.

The company has also reported earnings per share (EPS) of Tk 54.21, net asset value (NAV) per share of Tk 311.59 (with revaluation), Tk 208.16 (without revaluation) and net operating cash flow per share (NOCFPS) of Tk 31.96 for the year ended on June 30, 2021 as against Tk 24.21, Tk 264.48 (with revaluation), Tk 159.94 (without revaluation) and Tk. 16.81 respectively for the same period of the previous year.

The company disbursed a 200 per cent cash dividend for the year ended on June, 2020.

In compliance with the Section 11 (Ka) of the Companies Act 1994 (2nd Amendment), Company's name will be "Walton Hi-Tech Industries PLC" in place of "Walton Hi-Tech Industries Limited", said the filing.

The company's share price fell 3.87 per cent or Tk 57 each to close at Tk 1,417 on Wednesday over the previous day as this dividend declaration might fail to match their expectations.

Its shares traded between Tk 378 and Tk 1,524 since listing with the DSE on September 23, 2020.

Walton raised Tk 1.0 billion under the book-building method from the stock market to expand its business and repay some bank loans.

The company issued each of its primary shares to the public at Tk 252.

Now, the Walton is the second highest market-cap listed company on the DSE after Grameenphone (GP). The Walton's market-cap stood at Tk 446.51 billion whereas GP's market-cap stood at Tk 487.32 billion as of Wednesday.

The company's paid-up capital is Tk 3.02 billion and authorised capital is Tk 6.0 billion while total number of securities is 302.92 million.

The sponsor-directors own 99.03 per cent stake in the company, while the institutional investors 0.37 per cent, foreign investors 0.10 per cent and the general public only 0.50 per cent as on June 30, 2021, the DSE data shows.

[email protected]


Share if you like